(News Bulletin 247) – While maintaining its ‘outperformance’ opinion on Tesla, Wedbush is raising its price target from $300 to $350, seeing in the second quarter results published on Wednesday, “a major step in the right direction” for Elon Musk’s group.
The broker considers this publication solid, even if it recognizes that the manufacturer of electric cars has seen its margins clearly fall significantly below the level of around 25% over the past year.
Wedbush considers that this “is the sensible strategy for Tesla to catalyze volumes, as multiple price reductions have generated excitement in China, Europe and the United States”.
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