Tesla stock bull slashes price target on China headwinds and warns Musk's Twitter bid is a distraction risk


Source: businessinsider.in businessinsider.in

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A Tesla Model X. REUTERS/Francois Lenoir/File Photo Wedbush's Dan Ives cut his price target on Tesla to $1,000 from $1,400 as China's COVID lockdowns slow car production. The Tesla stock bull added that Elon Musk 's Twitter bid may be too much of a distraction. Advertisement Wedbush analyst Dan Ives lowered his price target on Tesla stock as China's current bout of COVID lockdowns creates more production slowdowns and supply-chain bottlenecks. He's still bullish on the electric car maker over the long-term as new plants in Austin and Berlin drive future growth, but must acknowledge "a new reality for Tesla...