Tesla analyst cuts Model 3 forecast, now sees bear market in stock ahead

Tesla analyst cuts Model 3 forecast, now sees bear market in stock ahead

5 years ago
Anonymous $Dftgs0JzgE

https://www.cnbc.com/2019/03/25/rbc-cuts-tesla-price-target-model-3-deliveries.html

Lackluster demand and overseas Model 3 delivery problems will weigh on Tesla's first-quarter earnings results when the company reports in April, RBC Capital Markets warned clients Monday.

The brokerage cut its first-quarter Model 3 delivery forecast to 52,500 from 57,000 and slashed its price target to $210 from $245, a 14 percent reduction that implies more than 20 percent downside over the next year.