Tesla bull slashes stock price target 43%, citing ‘brand crisis’ created by Musk and Trump
LONDON – One of Wall Street’s most bullish Tesla analysts slashed his price target for the stock by 43 per cent, citing a brand crisis created by chief executive Elon Musk and US President Donald Trump’s trade policies.
“Tesla has essentially become a political symbol globally,” Mr Daniel Ives, a Wedbush Securities analyst who has rated the carmaker’s shares a buy for the last four years, wrote in a report to clients on April 6. “It is time for Musk to step up, read the room, and be a leader in this time of uncertainty.”
Mr Ives reduced his Tesla share price target to US$315 from US$550, which had been the second-highest among the 72 analysts tracked by Bloomberg.
Mr Ives’ biggest concern is the potential for Tesla to…
