Head Topics

Tesla stock has fallen enough to start buying, Berenberg says

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 97%

United States Headlines News

United States Latest News,United States Headlines

'Tesla, in our view, could take market share at a gross margin that exceeds 25%,' Berenberg analyst Adrian Yanoshik said. Yanoshik raised his rating on Tesla to buy, while cutting his stock price target to $200 from $255.

Berenberg analyst Adrian Yanoshik turned bullish on Tesla Inc. on Monday, citing improved valuation as concerns that Chief Executive Elon Musk will be distracted by his Twitter purchase have already been priced into the stock.

“Tesla’s valuation has sufficiently returned to earth to turn us positive on the shares,” Yanoshik wrote in a note to clients. “Technical pressure from CEO Elon Musk’s Twitter purchase and China disruption risks now appear to be loaded into the share price, while we think Tesla’s 1 March investor day offers near-term catalyst potential.”

He also believes the expansion of production of battery cells offers Tesla further “economies of scale,” that would help it better compete with EV rivals, even as the ramping up of in-house production remains challenging.

Source: News Formal (newsformal.com)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 3. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Berenberg upgrades Tesla, says price cuts are part of a broader strategyThe firm rated the electric vehicle maker a buy while bringing down the price target.
Source: CNBC - 🏆 12. / 72 Read more »

Tesla Bulls vs. Tesla Bears Debate (Video)Bears and bulls alike will have to address Tesla’s incredible growth and industry disruptions over the past few years What about the Tesla Girls?
Source: cleantechnica - 🏆 565. / 51 Read more »

Strong Tesla Profits & Demand Boost Tesla Bull Outlooks, But Concerns LingerTesla, investors are warming up to the idea of a big 2023 for the automaker, especially after the company’s recent quarterly earnings call.
Source: cleantechnica - 🏆 565. / 51 Read more »

25% Plugin Vehicle Share In France!Peugeot e-208 is the 2022 best seller in France!
Source: cleantechnica - 🏆 565. / 51 Read more »

25 Actors Who Basically Went Up To Their Show's Writers And Said 'Kill Me Off'Can't believe Derek Shepherd didn't want to be Derek Shepherd anymore.
Source: BuzzFeed - 🏆 730. / 51 Read more »

AP men's basketball Top 25: Purdue jumps back to No. 1 after Temple shocks HoustonThis past week was full of several shocking upsets.
Source: WOKVNews - 🏆 247. / 63 Read more »