Tesla Bull Slashes Stock Price Target 43%, Citing Musk and Trump
(Bloomberg) — One of Wall Street’s most bullish Tesla Inc. analysts slashed his price target for the stock by 43%, citing a brand crisis created by Chief Executive Officer Elon Musk and US President Donald Trump’s trade policies.
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“Tesla has essentially become a political symbol globally,” Daniel Ives, a Wedbush Securities analyst who’s rated the carmaker’s shares a buy for the last four years, wrote in a report to clients Sunday. “It is time for Musk to step up, read the room, and be a leader in this time of uncertainty.”
Ives reduced his Tesla share-price target to $315 from $550, which had been the second-highest among the 72 analysts tracked by Bloomberg.
Ives’ biggest concern…
