Dan Ives of Wedbush Securities has revised his price target for Tesla from $550 to $315, while maintaining an Outperform rating. The reduction reflects a significant backlash against CEO Elon Musk and U.S. tariffs, which Ives describes as contributing to a 'full-blown brand crisis.' He estimates that Tesla could have lost up to 10% of its potential customer base globally due to Musk's controversial actions and the political climate. The analyst cautions that this self-inflicted damage could be even more severe in Europe, where the backlash is more pronounced.
Tesla has essentially become a political symbol globally....and that is a very bad thing for the future of this disruptive tech stalwart and the brand crisis tornado that has now turned into an F5 tornado.
We now estimate Tesla has lost/destroyed at least 10 percent of its future customer base globally based on self created brand issues and this could be a conservative estimate.
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