![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
Cryptocurrency News Articles
Tesla shares could fall by another 40%, says Wells Fargo
Mar 15, 2025 at 01:08 pm
Tesla has lost half of its value since December, but Wells Fargo says that it could fall by another 40%.
Tesla has lost half its value since December, but Wells Fargo says it could fall by another 40%.
Analyst Colin Langan downgraded his 12-month price target on Friday, cutting it from $135 to $130 and keeping an underweight rating on the stock. His new forecast implies a 46% decline from where the shares are now trading.
The average price target on Wall Street is $372, but Langan’s outlook tells a different story.
“We’ve been bearish on Tesla’s revenue and margins since last year, and the concerns have largely played out,” Langan explained, highlighting a 40% decline in European sales this year as a key driver of the recent share price downturn.
“With no sales growth, we believe the stock’s momentum will continue to drain.”
The problems are unfolding as several companies are cutting their price target.
Earlier this week, UBS and Redburn Atlantic maintained their sell ratings on the stock, adding more pressure on the shares.
The company is also struggling with tariffs, as Tesla and SpaceX penned letters to U.S. trade representative Jamieson Greer on Friday, expressing their concerns over Trump’s tariff policies.
In a letter submitted by Miriam Eqab, Associate General Counsel, Tesla said the U.S. tariffs on Chinese goods are driving up the costs of Tesla’s U.S.-assembled vehicles.
“U.S. exporters are being disproportionately affected as other countries routinely retaliate against U.S. trade claims with tariffs of our own,” the letter stated. The company warned that these tariffs will make its vehicles less competitive, both at home and abroad.
SpaceX, meanwhile, had a different problem. The company’s Starlink satellite service is facing external trade barriers that are increasing its costs.
“Import tariffs in several countries add a significant burden to Starlink’s operating costs, whereas the U.S. does not impose comparable tariffs on any competing products or services,” said Mat Dunn, Senior Director of Global Business and Government Affairs at SpaceX in his letter.
The letters were part of a public comment period, in which over 700 companies responded to Trumps trade policies. But the message was clear: the tariffs are making their products more expensive, hurting sales and reducing profitability.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
-
-
-
-
-
-
-
-
- Litecoin (LTC) is on the verge of retesting an important support level
- Mar 15, 2025 at 11:05 pm
- Litecoin (LTC) is on the verge of retesting an important support level, which has inspired bulls to help change the trend. The cryptocurrency has been declining but it is due at the price level of $84 to $90.