Wells Fargo has reasserted its price target of $130 for Tesla, indicating a bearish outlook primarily due to declining vehicle sales in Europe, China, and the U.S. The firm's analyst Colin Langan noted a significant forecast for a 53% downside from current levels, exacerbated by political challenges and a possible reduction of tax credits. Although some analysts disagree, pointing to Tesla's strategic production updates for the Model Y, Wells Fargo remains cautious about the company's earnings prospects and overall market position looking forward.
Wells Fargo has reiterated its bearish price target for Tesla at $130, citing concerns over slow vehicle sales and a challenging political environment.
The forecast underscores anticipated pressures on Tesla's earnings due to lower deliveries and potential loss of federal tax incentives, highlighting a rocky road ahead.
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