In This Article:
-
JPMorgan analyst Ryan Brinkman raised the price target on Tesla Inc (NASDAQ: TSLA) to $325 from $295 and reiterated an Underweight rating on the shares. The price target implies a downside of 65.3%.
-
Tesla reported better than expected Q4 results, featuring stronger than consensus revenue, margin, and free cash flow, Brinkman notes.
-
The company, however, said it does not plan to launch any new models in 2022 "despite a bevy of planned new battery-electric models from major and start-up automakers," adds the analyst.
-
He notes that this implies the Roadster and Semi, initially slated for launch in 2020, and the Cybertruck, initially slated for launch in 2021, will be delayed until at least 2023.
-
Price Action: TSLA shares traded lower by 5.38% at $887.00 on the last check Thursday.
Latest Ratings for TSLA
Jan 2022 | Citigroup | Maintains | Sell | |
Jan 2022 | Wells Fargo | Maintains | Equal-Weight | |
Jan 2022 | JP Morgan | Maintains | Underweight |
View More Analyst Ratings for TSLA
View the Latest Analyst Ratings
See more from Benzinga
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.