Tesla shares finally managed to record price gains again this week. But one of Tesla’s biggest Wall Street bulls appears to be slowly losing faith in the electric car maker.
In the past five trading days, Tesla shares have gained nearly six percent. Tesla bull Dan Ives of Wedbush had a price target of $350 per share, but revised that after calling the electric car maker’s latest sales report “an absolute disaster.” The new target price is now $300 – still more than 71 percent above the current level.
In Ive’s latest note, the analyst suggests that he may lower his price target further when CEO Elon Musk presents Tesla’s first-quarter earnings on April 23. Will Musk be able to adequately communicate to analysts and investors how Tesla can return to growth?
walltreetONLINE editorial team
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