Investment bank Baird has cut its Tesla share price target as it cautions investors about short-term headwinds to the stock. In its note, Baird reduced Tesla’s share price target to $370 from $440 and kept an Overweight rating on the shares. Analyst Ben Kallo added that Tesla faces demand and supply side risks to its deliveries. He focuses on Tesla’s Model Y refresh and quotes Elon Musk’s Q4 earnings call comments, where the executive outlined that Model Y retooling at Tesla’s factories would create a short-term impact on Tesla’s output. Over the long term, Baird remains optimistic about Tesla’s narrative […]
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