Wedbush drops Tesla price target amid "epic disaster" lockdowns in Shanghai

Wedbush analyst Dan Ives opted to lower his price target for American electric vehicle maker Tesla from his previous $1,400 per share to a still-optimistic but more conservative $1,000 per share. Ives cited headwinds in China as a driver for his updated estimates. The analyst noted that the current lockdowns in Shanghai are an "epic disaster" for the second quarter. And considering that China is still in the middle of battling the pandemic , Ives noted that Tesla would likely record "modest delivery softness this quarter with slower growth trajectory in the key China region into the 2H." The Wedbush…