Investors are likely to consider an event called "Investor's Day in Autonomy", which will take place on Monday as they see more evidence of progress in the business model.
Car Searches Tesla Inc. is expected to exert even greater pressure in the conditions of growing competition, the phasing out of federal tax incentives and an outdated product line, Arndt Elinghorst, an analyst at Evercore ISI, said on Monday.
Ellinghorst lowered stock ratings by retaining the equivalent of sales, noting that growth could not be stopped for a growing company. This is the fifteenth sale of shares among 36 analysts, followed by Bloomberg. Tesla's shares fell by 2% in surpluses.
"As growth estimates decline, multiple estimates have to show a downward trend," said the analyst, adding that investors are likely to look closely at Tesla's Investors Independence Day, which will be held later. on Monday, until more evidence of progress in the business model is seen.
Shares of electric car maker fell 2.87% to $ 265.80 for Wall Street paper.
Ellinghorst also cut its target price in shares to $ 240 from $ 330 and cut its forecast for delivery in 2019 to 369,000 units of the previously estimated 402,000.
Tesla now needs to focus on two key factors: an adequate capital increase that can strengthen its overall balance and an improved or "reflective" strategic decision-making process, the analyst said. "We believe that Tesla lacks a critical and sustainable layer of manager / top management and that it has to hire and train more experienced car managers," said Elinghorst.
Separately, Daniel Ives, a Wedbush analyst, said that although the event is expected to develop with autonomous driving, what everyone wants to know is whether Tesla is close to profit in the first quarter after Wednesday. on the stock market, based on the number of published deliveries.
Analysts expect an average loss of 90 cents per share for the quarter, with revenues of 5.27 billion dollars, according to data from Bloomberg.