Wedbush says Tesla’s upcoming earnings report is ‘a moment of truth’ for the company
Analyst Dan Ives said the current environment for Tesla is reminiscent of the challenges and uncertainty the company faced in 2015, 2018, and 2020, but it could result in a loss of long-term shareholders.
“This time is clearly a bit different as for the first time many long time Tesla believers are giving up on the story and throwing in the white towel,” Ives said.
Ives said it is crucial that Tesla CEO Elon Musk confirms that a low-cost Model 2 is still on the company’s product road map, and said that first-quarter results will likely take a backseat to any updates to the company’s long-term vision.
Wedbush rates Tesla at “Outperform” with a $300 price target.