(News Bulletin 247) – Wedbush reiterates its ‘outperforming’ opinion on Tesla, while adjusting its price target from $225 to $215, to “reflect further short-term margin weakness over the coming quarters”.
The broker points out that the electric car manufacturer released mixed first quarter results, with solid demand indicators, but weaker margins, an element which it calls ‘the elephant in the room’.
Wedbush remains very positive on the record, but warns that ‘this margin compression and price reduction narrative will need to be managed with caution over the coming quarters, now emerging as a clear cloud over the stock’.
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