Tesla: Credit Suisse cuts target price

(CercleFinance.com) - While remains positive towards the Tesla stock, with an "outperform" rating, Credit Suisse has cut its target price for it from $1,125 to $1,000, after slashing its Q2 2002 EPS estimate from 2.
06 dollars to 1.10 dollar.

The broker justifies this reduction by lowering the delivery forecast for this period to 242,000 vehicles, largely due to Covid-related closures in Shanghai and the associated impact on margins, as well as the expected depreciation of the Bitcoin.

Nevertheless, Credit Suisse remains positive on Tesla, "as the long-term fundamentals are intact - and the widening supply constraints will likely extend Tesla's lead over other OEMs in the race to EV".


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