Tesla: Jefferies no longer on 'buy'

(CercleFinance.com) - Jefferies announced on Wednesday that is has downgraded its recommendation on Tesla, from 'buy' to 'hold', with a target price reduced from 230 to 185 dollars.


In a research note, the analyst justifies this downgrade by highlighting the electric vehicle manufacturer's strategy of favouring growth over margins.

With the Californian group's management team clearly indicating its willingness to accept smaller profit margins, the broker explains that it has reduced its operating result (EBIT) forecast for 2023 by 32%.

Its annual revenue target is down 7% to 96.6 billion dollars.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.