Tesla stock tumbles as bullish analyst throws in the towel, blaming tariffs and Elon Musk
Source: Yahoo! Finance
Tesla stock tumbles as bullish analyst throws in the towel, blaming tariffs and Elon Musk
'This is a full blown crisis ... and it is time for Musk to step up,' said Wedbush's Dan Ives as he dropped his price target to $315 from $550.
Pras Subramanian·Senior Reporter
Mon, April 7, 2025 at 10:44 AM EDT·2 min read
Tesla (TSLA) bull Dan Ives finally threw in the towel, slashing his price target and citing Trump’s auto tariffs and CEO Elon Musk's White House role as the reasons why.
The Wedbush analyst maintained his Outperform rating but dropped his price target to $315 from $550, a nearly 43% haircut.
“The economic tariff Armageddon unleashed by the Trump Administration is a double whammy for Tesla in our view,” Ives said in his note, adding that despite not being as exposed as rivals like GM and Ford, sourcing parts such as battery cells from China will be a problem.
Tesla stock tumbled as much as 4% at the open but rebounded briefly on refuted news that Trump was considering a 90-day pause on tariffs. Shares were down more than 5% in midmorning trade.
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Read more: https://news.yahoo.com/news/finance/news/tesla-stock-tumbles-as-bullish-analyst-throws-in-the-towel-blaming-tariffs-and-elon-musk-144402589.html
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