Well-Known Analyst Slashes His Price Target on Tesla (TSLA) Stock
Dan Ives, a renowned analyst at investment bank Wedbush Securities, cut his price target on Tesla (TSLA) today to $315 from $550, Schwab Network reported. However, Ives did keep an Outperform rating on the name.
Why Ives Sharply Lowered His Price Target
President Donald Trump’s tariffs, which Ives called “economic…Armageddon,” will create “a double whammy” for TSLA, the analyst warned. In addition to lowering Tesla’s profits in America, the duties will create major problems for the automaker in China, he believes.
In fact, Ives is more concerned about the impact of the duties on the company’s business in China, as the Asian country “is the linchpin to the future…
