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Morgan Stanley cuts worst case share price to

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trkyhntr Member Level  Tuesday, 05/21/19 07:30:41 AM
Re: Nebuchadnezzar post# 20092
Post # of 21317 
Morgan Stanley cuts worst case share price to $10. I may be a buyer then, or maybe not. You can read the entire article at the link below.

https://finance.yahoo.com/news/morgan-stanley-slashes-worst-case-093700546.html

Quote:
(Bloomberg) -- Tesla Inc. was delivered another blow Tuesday by Morgan Stanley analysts who slashed their worse-case scenario for the share price to just $10 over concerns the electric-car market is saturated.

“Demand is at the heart of the problem,” analysts led by Adam Jonas said in a note. “Tesla has grown too big relative to near-term demand, putting great strain on the fundamentals.”

Jonas lowered his “bear case” for Tesla shares from a previous estimate of $97, which assumes Tesla misses its current sales forecast in China by about half, and kept a price target of $230. The stock fell 2.6% to $200 a share in pre-market trading.

Tesla has drawn criticism for weak deliveries. Tesla handed over just 63,000 cars in the first quarter, yet expects to deliver as many as 100,000 cars in the second and four times that for the year. Hitting the full-year target is going to be a “Herculean task,” Wedbush Securities analyst Dan Ives said on Sunday.



trkyhntr
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