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2023-04-05

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Tesla Stock: Headed to $150?

One analyst thinks more price cuts could be on the way for the electric-car maker.

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":9948801545,"tweetId":"9948801545","gmtCreate":1680659334888,"gmtModify":1680659338303,"author":{"id":3574813964437135,"idStr":"3574813964437135","authorId":3574813964437135,"authorIdStr":"3574813964437135","name":"June_C","avatar":"https://static.tigerbbs.com/ae77017e1795eeceab087663e5586137","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":29,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"html":"<html><head></head><body><p>Great</p></body></html>","htmlText":"<html><head></head><body><p>Great</p></body></html>","text":"Great","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/9948801545","repostId":2324887333,"repostType":2,"repost":{"id":"2324887333","kind":"highlight","pubTimestamp":1680647400,"share":"https://www.laohu8.com/m/news/2324887333?lang=&edition=full","pubTime":"2023-04-05 06:30","market":"us","language":"en","title":"Tesla Stock: Headed to $150?","url":"https://stock-news.laohu8.com/highlight/detail?id=2324887333","media":"Motley Fool","summary":"One analyst thinks more price cuts could be on the way for the electric-car maker.","content":"<html><head></head><body><h2 style=\"text-align: start;\">KEY POINTS</h2><ul><li><p>Following Tesla&#39;s first-quarter vehicle deliveries update, this analyst thinks the stock will underperform.</p></li><li><p>The analyst&#39;s price target for the growth stock suggests shares could lose more than a fifth of their value.</p></li><li><p>But is the analyst&#39;s concern about Tesla&#39;s growing inventory fair?</p></li></ul><p>Shares of <strong>Tesla</strong> tanked on Monday, following the company&#39;s release of its first-quarter vehicle production and deliveries data. While deliveries grew nicely year over year, it apparently wasn&#39;t enough to excite Wall Street. As analysts digested the report, their published viewpoints on the update have been mixed. Some analysts were pleased with the 36% year-over-year growth. But others admitted that the nearly 423,000 deliveries were underwhelming.</p><p>In this article, we&#39;ll take a look at one of the more bearish analyst takes following Tesla&#39;s update on production and deliveries. One analyst reiterated an underperform rating for the stock and a $150 12-month price target. Here&#39;s what&#39;s behind his pessimistic view for the growth stock. </p><h2>More price cuts to come?</h2><p>Earlier this year, Tesla rolled out major price cuts for its vehicle lineup. This sparked concerns in the media about potential demand softening. But Tesla CEO Elon Musk said in the company&#39;s fourth-quarter earnings call that the lower prices were driving a significant surge in orders.</p><p>Investors ultimately warmed up to the idea of price cuts, evidenced by the stock&#39;s soaring price year to date. Further, part of the price cut was essentially giving back price increases that occurred in the prior year, as higher costs led Tesla to raise prices on its vehicles. As some of Tesla&#39;s costs started to normalize more recently, it made sense for the company to pass those savings on to customers through reduced prices. After all, lower prices do typically drive higher unit sales.</p><p>But Bernstein analyst Toni Sacconaghi thinks that there are more price cuts to come. He notes that Tesla&#39;s vehicle inventory, while still low, has been growing. Further, the wait time between a new order of a Tesla vehicle in the U.S. and the expected delivery window is currently low on all models except Tesla&#39;s Model Y, Sacconaghi says. He thinks these things point to signs of a tough demand environment, and potentially more price increases later this year.</p><p>With expectations for more price cuts, Bernstein thinks shares are overvalued. His 12-month price target of $150 for the stock implies nearly 23% downside from where the stock is trading at the time of this writing.</p><h2>There&#39;s a good explanation for more inventory</h2><p>While Sacconaghi&#39;s take is worth taking into consideration, investors should note that there&#39;s a good reason for Tesla&#39;s inventory build. The company explained in its fourth-quarter update that it has been working toward a gradual shift toward a more balanced regional mix of production and deliveries throughout the year. This effort could have led to some inventory build as Tesla prioritizes lower costs over delivery speed when it comes to shipping its vehicles. Given Tesla&#39;s effort to better balance and optimize its vehicle shipment process, its inventory of vehicles will likely gradually increase throughout the year.</p><p>With this said, more price cuts are certainly possible. If any do occur, investors may want to look for answers from management in earnings calls throughout the year.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock: Headed to $150?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock: Headed to $150?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-05 06:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2023/04/04/tesla-stock-headed-to-150/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTSFollowing Tesla's first-quarter vehicle deliveries update, this analyst thinks the stock will underperform.The analyst's price target for the growth stock suggests shares could lose more ...</p>\n\n<a href=\"https://www.fool.com/investing/2023/04/04/tesla-stock-headed-to-150/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4511":"特斯拉概念","BK4548":"巴美列捷福持仓","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","BK4099":"汽车制造商","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU0823411888.USD":"法巴消费创新基金 Cap","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0056508442.USD":"贝莱德世界科技基金A2","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","BK4585":"ETF&股票定投概念","LU2063271972.USD":"富兰克林创新领域基金","BK4534":"瑞士信贷持仓","BK4555":"新能源车","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0823414478.USD":"法巴经典能源转换基金","LU0097036916.USD":"贝莱德美国增长A2 USD","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4581":"高盛持仓","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4527":"明星科技股","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4550":"红杉资本持仓","BK4588":"碎股","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4574":"无人驾驶","BK4551":"寇图资本持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD"},"source_url":"https://www.fool.com/investing/2023/04/04/tesla-stock-headed-to-150/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2324887333","content_text":"KEY POINTSFollowing Tesla's first-quarter vehicle deliveries update, this analyst thinks the stock will underperform.The analyst's price target for the growth stock suggests shares could lose more than a fifth of their value.But is the analyst's concern about Tesla's growing inventory fair?Shares of Tesla tanked on Monday, following the company's release of its first-quarter vehicle production and deliveries data. While deliveries grew nicely year over year, it apparently wasn't enough to excite Wall Street. As analysts digested the report, their published viewpoints on the update have been mixed. Some analysts were pleased with the 36% year-over-year growth. But others admitted that the nearly 423,000 deliveries were underwhelming.In this article, we'll take a look at one of the more bearish analyst takes following Tesla's update on production and deliveries. One analyst reiterated an underperform rating for the stock and a $150 12-month price target. Here's what's behind his pessimistic view for the growth stock. More price cuts to come?Earlier this year, Tesla rolled out major price cuts for its vehicle lineup. This sparked concerns in the media about potential demand softening. But Tesla CEO Elon Musk said in the company's fourth-quarter earnings call that the lower prices were driving a significant surge in orders.Investors ultimately warmed up to the idea of price cuts, evidenced by the stock's soaring price year to date. Further, part of the price cut was essentially giving back price increases that occurred in the prior year, as higher costs led Tesla to raise prices on its vehicles. As some of Tesla's costs started to normalize more recently, it made sense for the company to pass those savings on to customers through reduced prices. After all, lower prices do typically drive higher unit sales.But Bernstein analyst Toni Sacconaghi thinks that there are more price cuts to come. He notes that Tesla's vehicle inventory, while still low, has been growing. Further, the wait time between a new order of a Tesla vehicle in the U.S. and the expected delivery window is currently low on all models except Tesla's Model Y, Sacconaghi says. He thinks these things point to signs of a tough demand environment, and potentially more price increases later this year.With expectations for more price cuts, Bernstein thinks shares are overvalued. His 12-month price target of $150 for the stock implies nearly 23% downside from where the stock is trading at the time of this writing.There's a good explanation for more inventoryWhile Sacconaghi's take is worth taking into consideration, investors should note that there's a good reason for Tesla's inventory build. The company explained in its fourth-quarter update that it has been working toward a gradual shift toward a more balanced regional mix of production and deliveries throughout the year. This effort could have led to some inventory build as Tesla prioritizes lower costs over delivery speed when it comes to shipping its vehicles. Given Tesla's effort to better balance and optimize its vehicle shipment process, its inventory of vehicles will likely gradually increase throughout the year.With this said, more price cuts are certainly possible. If any do occur, investors may want to look for answers from management in earnings calls throughout the year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":386,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":5,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}