(News Bulletin 247) – Barclays on Wednesday downgraded its advice on Tesla, reduced from ‘overweight’ to ‘online weighting’ following the recent surge in value.
In a research note, the research department believes that the ‘rally’ signed by the title – which it explains by the market’s enthusiasm for stocks linked to artificial intelligence – does not take into account a certain number of uncertainties surrounding short-term fundamentals.
The analyst explains that he is worried about factors such as the evolution of the group’s profit margins, the elasticity of demand to price reductions and the future trajectory in terms of pricing.
If he says he is optimistic about the file in a long-term perspective, considering the Californian group as the big winner of vehicle electrification, Barclays believes that the materialization of his hopes could take time.
Its target price is increased from 220 to 260 dollars.
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