Tesla Bull Rues ‘Train Wreck’ Earnings Call, Slashes Price Target By 10%: ‘Dead Wrong Expecting Musk And Team To Step Up Like Adults In The Room’
Tesla, Inc. (NASDAQ:TSLA) uber-bulls appear to be throwing in the towel, with two of them tempering their expectations for the electric-vehicle giant in the wake of a double miss in the fourth quarter.
A Shaky 2024 Ahead: Wedbush analyst Daniel Ives expressed disappointment with the earnings call.
“We were dead wrong expecting [Elon] Musk and team to step up like adults in the room on the call and give a strategic and financial overview of the ongoing price cuts, margin structure, and fluctuating demand,” he said.
“Instead, we got a high-level Tesla long-term view with another train wreck conference call.”
Musk was much more cautious and chose to steer the discussion around production, next-gen vehicle timelines, and FSD/investments, the analyst said. The much larger Tesla story gleaned from the call was the 2024 unit growth likely coming in notably lower, and a lack of guidance on margins/expense structure.
Ives, however, is optimistic about the long-term outlook. “The long-term story is intact for Tesla, and we truly believe EV adoption to a much broader mass market is around the corner, with AI/FSD the future.”
The “near-term Category 4 hurricane” around price cuts and a lack …
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