Tesla stock

Daiwa Securities analyst Jairam Nathan slashed the price target on Tesla (NASDAQ:TSLA) shares to $800.00 per share from $1,150.00 to reflect the lockdowns ...

Charts 1 and 2 show EV penetration growth in both regions,” the analyst concluded. The lowered price target also reflected lowered 2022 deliveries of 1.2 million electric vehicle (EV) units, down from the prior 1.4 million. “The lockdowns in China have not tempered demand for EVs, as reflected in the 34% YoY increase in BEV sales in April. Overall passenger vehicle sales declined 35% YoY. The higher BEV sales is despite Tesla’s negligible contribution during the period. Moreover, Nathan says that the slashed price target mirrors ”concerns around a) Tesla hitting its 50% volume growth goal in 2022; and b) any negative impact from Elon Musk’s proposed takeover of Twitter (NYSE: TWTR), either on management of Tesla or on TSLA stock from a potential divestment.” As such, the Shanghai impact is “bound to have a significant impact on margins and earnings,” Nathan told clients in a note. Daiwa Securities analyst Jairam Nathan slashed the price target on Tesla (NASDAQ: TSLA) shares to $800.00 per share from $1,150.00 to reflect the lockdowns in Shanghai and supply chain concerns impacting the ramp-up of Austin and Berlin factories.

Shares of Tesla Inc. undefined dropped 3.0% in premarket trading Tuesday, after Daiwa Capital analyst Jairam Nathan reiterated his outperform rating on the.

"With about 13,000 units of production per week and higher than average margins, any production loss at Shanghai is bound to have a significant impact on margins and earnings," Nathan wrote in a note to clients. He also cut his 2022 earnings per share estimate to $9.30 from $12.00, compared with the FactSet consensus of $12.14, and lowered his deliveries estimate to 1.2 million units from 1.4 million. Shares of Tesla Inc. TSLA, -6.93%dropped 3.0% in premarket trading Tuesday, after Daiwa Capital analyst Jairam Nathan reiterated his outperform rating on the electric vehicle maker but cut his price target to $800 from $1,150, citing COVID-19-related lockdowns in Shanghai and supply chain concerns impacting the ramp-up of its Austin and Berlin plants.

"This circus show has been a major overhang on Tesla's stock and has been a black eye for Musk so far," Wedbush's Dan Ives wrote.

Also not helping Tesla's stock is an imminent death cross, a bearish sell signal in technical analysis that alerts traders to a solidifying downtrend in the stock price. Tesla was added to the S&P 500 on December 21, 2020, after the company reported more than four consecutive quarters of profits. Tesla stock is down 39% year-to-date, and it's down about 50% from its record high.

Daiwa Capital analyst Jairam Nathan cut his price target for Tesla (TSLA) shares on Monday. TSLA stock began to drop in pre-market trading and the slide is ...

In fact, continued short-term turbulence is a given when you consider the challenges of Covid-19 lockdowns in China and the continuation of Elon Musk’s Twitter acquisition. The production blip (and corresponding drop in deliveries) will turn into a return to strong sales for the company. The Covid-19 lockdowns and price hikes have apparently not affected the ability for consumers of means in that country to buy EVs. Among the issues Tesla investors fret about are the impact of Musk unloading Tesla shares to fund his acquisition, and the potential that the Twitter deal is distracting Musk from running Tesla. In response, Musk has tweeted that he is spending less than 5% of his time on the Twitter acquisition. Yesterday, Daiwa Capital analyst Jairam Nathan kept his “outperform” rating for Tesla stock, but cut 2022 earnings-per-share estimates and slashed his price target from $1,150 to $800. This is the second notable price target reduction for TSLA stock in under a week. In the case of TSLA stock, the latest challenge is an analyst price target cut.