Despite challenges including decelerating demand and price cuts in China, Tesla is the only electric vehicle maker covered by Morgan Stanley that generates a profit on the sale of its cars, Jonas wrote in a note. The analyst — who also highlighted Tesla’s potential to benefit from consumer tax credits in the United States — reiterated his US$330 price target.
Shares rose 1.5 per cent in premarket trading to US$172.40. The stock has slumped this year amid rising raw materials costs, issues with production and sales in China and pressure on customer budgets. Latterly, chief executive Elon Musk’s focus on turning around Twitter Inc. has also hit sentiment, with US$300 billion wiped off Tesla’s market cap in the past two months, according to Bloomberg calculations.
The distraction caused by Twitter is essential to stop the stock slide, according to Jonas. “There must be some form of sentiment ‘circuit breaker’ around the Twitter situation to calm investor concerns around Tesla,” he wrote.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. Patent and Trademark Office has officially approved the 'J.P. Morgan Wallet'The USPTO has approved JPMorgans trademark application for a ‘J.P. Morgan Wallet’ that will offer crypto services to users around the world.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Morgan Rielly injury turns Toronto Maple Leafs' blueline crisis from bad to critical - Daily FaceoffMorgan Rielly injury turns Toronto Maple Leafs’ blueline crisis from bad to critical MLarkinHockey I think Leafs were 1-5 in OT before last night (Robertson goal vs Dallas being the 1)
Source: DailyFaceoff - 🏆 25. / 68 Read more »
Morgan Rielly placed on long-term injured reserve with knee injury - Daily FaceoffThe Leafs are now without three of their top four defenseman after Rielly left Monday's game against the Islanders.
Source: DailyFaceoff - 🏆 25. / 68 Read more »
Leafs defenceman Morgan Rielly out at least 10 games with knee injuryToronto’s three highest-paid defencemen are now out with injury: Rielly, Jake Muzzin and T.J. Brodie. Their top two defencemen and their rover.
Source: TorontoStar - 🏆 60. / 55 Read more »
Maple Leafs place Morgan Rielly on LTIR, recall Victor Mete, Mac Hollowell from the MarliesDefenceman Morgan Rielly has been placed on long\u002Dterm injured reserve, the team announced
Source: TheTorontoSun - 🏆 23. / 68 Read more »
Tesla just unlocked its full self-driving mode beta in downtown Toronto so look outToday in things that might not end well for Toronto pedestrians, Tesla just lifted a geofence that, until now, prohibited drivers from using Full S... Wonderful… suburban drivers are bad enough. Now I gotta watch out for bots 🤖 Shouldve launched it in Brampton. Full responsibility of the driver. Period. To get this software, drivers must first acquire a high safety driving score. Then, if chosen, they get the software. There is a camera that looks at the eyes of the user to disable if distracted. If disabled, kicked out of the program.
Source: blogTO - 🏆 44. / 63 Read more »