Tesla Bull Says Elon Musk Delivered ‘Rip The Band-Aid Off’ Q1 But Cautions This Could Derail Bullish Thesis
Following Tesla, Inc.’s (NASDAQ:TSLA) first-quarter earnings release, Wedbush analyst Daniel Ives maintained his bullish recommendation.
The Tesla Analyst: Ives maintained an Outperform rating, but reduced the price target from $300 to $275, citing his lowered estimates for the company.
The Tesla Thesis: Tesla delivered a “rip the band-aid off 1Q,” with the disaster results widely expected by the Street following the weak quarterly delivery numbers, said Ives in a note. The focus of the analysts and investors was, however, around the blueprint and roadmap for growth, he said.
The analyst also approved of CEO Elon Musk’s earnings call comments. “In a much-needed conference call Elon Musk finally stepped up as the adult in the room and laid the foundation for Tesla’s growth strategy, with most importantly a lower cost vehicle now slated for 2025 production and delivery,” he said.
This quelled anxiety among investors that Musk would take Tesla straight to …
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