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Several major banks, including Bank of America, Citi, and Wells Fargo, have lowered their price targets on Tesla ($TSLA) due to concerns about demand and profitability. Bank of America reduced its target to $220 from $280, citing profit pressure from weak demand. Citi reiterated Tesla as neutral and lowered its target to $180 from $196, highlighting near-term demand challenges. Wells Fargo also decreased its target to $120 from $125 while maintaining an Underweight rating.
Some investors asking why I am so against further $TSLA EV price cuts but am such an advocate of FSD subscription price cuts. It’s math. Every $1,000 price cut on Model Y - which is already very cheap in the US starting at $37,500 after the $7,500 EV credit - costs $TSLA…
Wells Fargo today lowered its price target on Tesla $TSLA to $120 from $125 while maintaining its Underweight rating Citi today lowered its price target on Tesla $TSLA to $180 from $196 while maintaining its Neutral rating
$TSLA Citi reiterates Tesla as neutral Citi lowered its price target on the stock to $180 per share from $196. “Given NT [near term] Tesla demand headwinds (in our view tied to product age, saturation), we still see more downside than upside to our NT estimates.”