U.S. markets close in 1 hour 5 minutes
  • S&P 500

    3,783.81
    -35.02 (-0.92%)
     
  • Dow 30

    30,734.56
    -294.75 (-0.95%)
     
  • Nasdaq

    11,035.44
    -142.45 (-1.27%)
     
  • Russell 2000

    1,711.18
    -8.19 (-0.48%)
     
  • Crude Oil

    105.76
    -4.02 (-3.66%)
     
  • Gold

    1,807.50
    -10.00 (-0.55%)
     
  • Silver

    20.29
    -0.45 (-2.16%)
     
  • EUR/USD

    1.0483
    +0.0039 (+0.38%)
     
  • 10-Yr Bond

    2.9800
    -0.1130 (-3.65%)
     
  • GBP/USD

    1.2180
    +0.0058 (+0.48%)
     
  • USD/JPY

    135.5700
    -0.9750 (-0.71%)
     
  • BTC-USD

    19,000.56
    -1,064.06 (-5.30%)
     
  • CMC Crypto 200

    407.64
    -23.83 (-5.52%)
     
  • FTSE 100

    7,169.28
    -143.04 (-1.96%)
     
  • Nikkei 225

    26,393.04
    -411.56 (-1.54%)
     

Tesla stock falls after Daiwa Capital cuts price target and EPS, delivery estimates

·1 min read
Tesla stock falls after Daiwa Capital cuts price target and EPS, delivery estimates
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Shares of Tesla Inc. dropped 3.0% in premarket trading Tuesday, after Daiwa Capital analyst Jairam Nathan reiterated his outperform rating on the electric vehicle maker but cut his price target to $800 from $1,150, citing COVID-19-related lockdowns in Shanghai and supply chain concerns impacting the ramp-up of its Austin and Berlin plants. He also cut his 2022 earnings per share estimate to $9.30 from $12.00, compared with the FactSet consensus of $12.14, and lowered his deliveries estimate to 1