(CercleFinance.com) – Analysts at Mizuho Securities announced on Thursday that they had lowered their price target on Tesla from $285 to $250, saying they were worried about the negative factors weighing on consumption.
In a research note, the design office recalls that the deliveries announced by the manufacturer of electric vehicles for the fourth quarter were disappointing, with 405,300 units delivered against a consensus established at 418,000.
He recalls, however, that this difference is not surprising in view of the closure of a period of almost a week which slowed down the Shanghai production site.
Despite this, Mizuho Americas acknowledges concern about the weakening economic environment and its effects on consumers, as well as the rise in key interest rates which, according to him, makes Tesla vehicles much less affordable.
According to the analyst, a slowdown in the global automotive market would not bode well for the Californian group.
As for the Twitter file, at the origin of the sales of Tesla shares by Elon Musk which weighed so much on the stock market, Mizuho believes that the chapter is undoubtedly closed in the current state of things.
Copyright © 2023 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
