Truist lowered the firm’s price target on Tesla (TSLA) to $351 from $360 and keeps a Hold rating on the shares. Tesla’s Q4 deliveries of 495,600 units were slightly below Street expectations and well below the firm’s model, the analyst tells investors in a research note. The firm’s data analysis suggests average selling prices declined by 0.5% quarter over quarter in the quarter, and Truist expects ASPs to continue facing downward pressure as Tesla will likely continue to flex pricing to stimulate demand.
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Read More on TSLA:
- EV Delivery Miss Hammers Tesla Stock Today
- Tesla down 3% after reporting below-consensus Q4 deliveries
- Tesla reports Q4 deliveries of 495,570, production of 459,445 vehicles
- Notable open interest changes for January 2nd
- Truist says latest Tesla FSD drive ‘more impressive’ with no interventions
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
