Tesla gets another bearish signal Monday
Tesla Inc. got another bearish signal on Monday, with a second analyst in recent days dialing down price targets and casting doubts on the company’s hopes for deliveries of the Model 3.
“We continue to see downside pressure to shares,” the analysts said. “We see both 2019 and 2020 revenue as down vs. the 4Q18 run-rate and, given is priced for growth, believe the valuation will come in.” On Friday, analysts at Cowen also cut their price target on Tesla stock, on “likely softer deliveries.”
Tesla is expected to report first-quarter results in early May. Analysts polled by FactSet expect the company to report an adjusted profit of 7 cents a share on sales of $6.1 billion. They forecast a GAAP loss of 67 cents a share for the quarter.
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