Posted 4/3/2024, 2:35:19 PM
Tesla Stock Slumps as Analysts Cut Price Targets on Delivery Shortfall, China Uncertainty
- Guggenheim analyst cut Tesla price target to $122 from $132, citing risks like delivery declines and China outlook
- Truist analysts also cut Tesla price target to $176 from $193, seeing next catalyst as a new vehicle unveiling
- Analysts cutting targets after Tesla missed Q1 delivery numbers
- Stock down over 30% so far this year, among S&P's worst performers
- Concerns raised about production declines, China outlook, economic cycle risks