Piper Sandler believes fears about Tesla’s brand taking a major hit are exaggerated.
While Elon Musk’s political behaviour may have slightly affected demand, the larger issue behind Tesla’s sharp drop in first-quarter deliveries was supply-side—specifically factory shutdowns that limited Model Y production. The firm notes demand remains strong, and with new products and a robo-taxi launch on the horizon, it maintains an Overweight rating and a $450 price target for the stock.
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Piper Sandler is an US investment bank/financial services firm,
This article was written by Eamonn Sheridan at www.forexlive.com.