Tesla’s Earnings Are Coming. Here’s What Wall Street Has To Say



Tesla ’s earnings are due out on Wednesday, July 22 after the market closes. It will be must-see TV for Wall Street denizens.

As the date approaches, analysts are refining numbers and hitting the refresh button on their short-term stock views. Right now, the analysis centers on risk versus reward,

Citigroup analyst Itay Michaeli is still cautious. He rates shares the equivalent of Sell, but he did increase his price target from $246 to $450 a share. That’s well below where Tesla stock trades, so he qualifies as a Tesla bear.

Michaeli, in a Wednesday research report, challenged some of the bull-case tenets such as the idea that Tesla is “experiencing seemingly unlimited demand that’s decoupled from autos, that traditional and emerging competitors stand little chance, that [Tesla’s self driving] is industry leading and that Tesla should be valued versus large Tech names.”

He calls the stock “high risk” as the big day nears..

Tesla’s Earnings Are Coming. Here’s What Wall Street Has To Say Tesla’s Earnings Are Coming. Here’s What Wall Street Has To Say Reviewed by Anson Moore on July 17, 2020 Rating: 5

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