Tesla's stock slump has gone too far, Morgan Stanley says

Quick Summary:

The stock has slumped this year amid rising raw materials costs, issues with production and sales in China and pressure on customer budgets.

The analyst — who also highlighted Tesla’s potential to benefit from consumer tax credits in the US — reiterated his US$330 price target.

Citi analysts upgraded the shares to neutral from sell, saying that a more than 50% slump this year “has balanced out the near-term risk/reward.

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Article Details

Category: InvestingFinance

Markets: MalaysiaChina

Topics: Analyst Tesla’s Analysts Year Stock Target Shares Jonas Tesla Slump Price

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-23 @ 16:33:05 (3 months ago)

News Timezone: GMT +8:00

News Source URL: news.google.com

Language: English

Article Length: 396 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © The Edge Markets

News ID: 1891203

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