Twitter stock surged from less than $40 to over $50 in April with this development, but this momentum was soon lost when the market realized that the deal could come under pressure not just because of regulatory scrutiny but also because of Mr. With the aim of privatizing the company, Twitter's Board of Directors accepted this offer on April 25. Musk acquiring just over 9% of Twitter shares publicly in the weeks that led to this announcement. ( TWTR) for approximately $44 billion, and this announcement came on the back of Mr. On April 14, Elon Musk announced a deal to acquire Twitter, Inc. ( TSLA ) private, Elon Musk has been making headlines for all the wrong reasons in addition to all the right reasons such as turning Tesla profitable. From smoking weed on the Joe Rogan Podcast to Tweeting about taking Tesla, Inc. Musk himself have faced difficulties because of these controversies. ![]() I'm not sure whether that should be looked upon as a good thing or a bad thing, but what I do know is that both investors and Mr. JPMorgan has leaned heavily bearish on Tesla stock, and its current price target of $135 per share represents potential downside of 46% from current levels.Elon Musk is known for many things, including his consistency in creating controversies. The bank expects Tesla to deliver third-quarter EPS of $0.76, well above consensus GAAP EPS estimates of $0.64 per share. "While this represents a fairly material reset of expectations, actually the decline in deliveries outlook is the least meaningful of expectation resets for Tesla this year because it has come despite large declines in average selling price which have exacerbated the impact of the volume shortfall on all other performance metrics," JPMorgan said. While consensus estimates expected Tesla to deliver about 451,000 vehicles in the quarter, prior Q3 consensus estimates were once as high as 550,000 vehicles. JPMorgan is leaning bearish on Tesla ahead of its earnings report, and recently said that its Q3 deliveries of about 435,000 vehicles is a "modest miss after the goalposts had been moved considerably." JPMorgan sticks with bearish view ahead of Tesla report. ![]() RBC expects Tesla to report third-quarter revenue of $23.7 billion, auto-gross margins of 18.2%, and adjusted earnings per share of $0.75. The bank highlighted that for Tesla to hit its 2023 delivery target of 1.8 million vehicles, it would have to deliver 476K units in the fourth-quarter, so guidance during the earnings call will be key. "We think commentary on the call on FSD licensing or what we believe to be Tesla's master pivot to becoming a Tier 1 supplier (charging infrastructure, batteries, power electronics, and of course autonomy) could reverse any down move in shares," RBC said. ![]() RBC warned investors in a recent note that Tesla could miss third-quarter analyst estimates after its planned factory upgrades impacted deliveries, which would likely send shares lower.īut any potential weakness in Tesla stock could be brief if the company offers commentary on its self-driving capabilities and/or its potential to become a supplier to automakers, akin to its recent charging network deals with a slew of companies. RBC sees a strategic pivot for Tesla on the idea it can become auto supplier. ![]() Account icon An icon in the shape of a person's head and shoulders.
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