84989
JP Morgan Sees Headwinds for Tesla Shares
JP Morgan Sees Headwinds for Tesla Shares

JP Morgan Sees Headwinds for Tesla Shares

JP Morgan Sees Headwinds for Tesla Shares

Tesla’s electric car sales will suffer due to increased competition from German automakers, according to J.P. Morgan. The firm reaffirmed its underweight rating on Tesla shares, citing the electric car pipelines from Mercedes-Benz, BMW and Audi, CNBC reported. “Tesla has, to date, faced relatively little competition in the market for luxury electric vehicles, and so we think shoppers have been willing to cut the automaker some slack when it comes to some aspects of service and build quality,” analyst Ryan Brinkman wrote in a note to clients Friday. “When similarly priced high-end long-range electric vehicles become available from prestigious brands with strong reputations for both service and build quality, we believe this could represent a meaningful headwind for Tesla.” Tesla’s stock closed down 3.3% Friday. The analyst said Daimler, the owner of Mercedes-Benz, has said it will launch 10 battery-powered electric vehicles by 2022. He also noted Audi’s electric vehicle pipeline. Brinkman reaffirmed his $185 price target on Tesla shares, representing 38% downside from Thursday’s close.

 

Short URL : https://goo.gl/LREuvk
  1. https://goo.gl/Ds4ah2
  • https://goo.gl/a28E5Y
  • https://goo.gl/uCSKwy
  • https://goo.gl/r12ZfD
  • https://goo.gl/kzd1rW

You can also read ...

Facebook Lures Google Engineer to Head Its Own Chip Development
Facebook Inc. has sent another signal that it is serious about...
Export Billet Prices Increase on Reduced Availability
Iranian export billet prices increased by $5-10 per ton over...
New MacBook Features Dust-Repelling Keyboard
Apple’s new MacBook Pro keyboards are slightly quieter than...
Copper Concentrate Output Up 11%
Copper concentrate produced by major Iranian copper firms...
Forex Rates Jump After Gov’t Stops Cheap Currency Allocation
Foreign exchange rates in the unofficial market registered...
Tehran to Host Startup Week
Attended by fintechs and startups, Tehran is to host a week-...
US Confiscates 500 Iranian Bitcoins
The US federal government confiscated at least 500 Bitcoins...
The private sector completed the construction of 52,081 buildings in H1 2017-18 across all urban areas
The latest data disclosed by the Central Bank of Iran show...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus