Thursday, 18 April 2024

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Business News

Tesla’s Q1 deliveries a ‘big miss’ against ‘very lowered bar’, says UBS – TipRanks Financial Blog

Tesla owners in China protest against missed surprise price cuts, Reuters says

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UBS analyst Joseph Spak keeps a Neutral rating and $165 price target on Tesla while noting that the company’s Q1 delivery figures marked a “big miss” relative to an already “very lowered bar”. There were some unique factors that impacted production in the quarter, but demand is also slowing, the analyst tells investors in a research note. UBS adds that a delivery decline vs. last year’s Q1, especially at a rate greater than the production decline, will do little to ease market concerns over growth.

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