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HomeBusinessTesla Shares May Fall as it Struggles to Meet Expectations

Tesla Shares May Fall as it Struggles to Meet Expectations

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Bernstein maintained an Underperform rating on Tesla (NASDAQ:TSLA) and a $150 per share price target, which suggests a potential downside risk of about 27% compared to the stock’s closing price on Friday.
The focus of Bernstein’s research was on the Chinese electric vehicle (EV) market, noting Tesla’s market share in China decreased from 22% in 2020 to 12% in 2022 due to intense competition.
The analysts believe that competition in China will only increase in the future, and forecast that Tesla will deliver 525,000 to 560,000 units in China this year, despite significant price cuts.
The survey also showed that Tesla’s brand remains strong in China but is increasingly polarizing and may be less appealing to customers beyond Tesla’s existing customer base. Furthermore, the analysts also argue that Tesla will struggle to meet expectations beyond this year until it can launch a low-cost platform, which may come with lower margins.

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