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Tesla Shares Slide 5%+ Against Mkt, as Mizuho Cuts TP
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Tesla (TSLA.US) shares bucked the US market trend on Monday, diving nearly 7% at one point and remaining down over 5% at approximately USD237 in the latest trading. Mizuho Securities released a new report highlighting Tesla’s sales struggles, slashing its target price by nearly 17% to USD430. The broker’s report noted that Tesla’s sales volume in February likely underperformed the broader auto market, particularly in the US, Europe, and China. It attributed the sales challenges to deteriorating geopolitics, brand perception, intensified competition leading to market share loss, and lower-than-expected demand for the updated Model Y. As a result, the target price on Tesla was cut from USD515 to USD430, though the Outperform rating was maintained. AAStocks Financial News |
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