Piper Sandler analyst Alexander Potter lowered the firm’s price target on Tesla to $820 from $928 and keeps an Overweight rating on the shares. Investors should be using the recent “market dislocation” to buy Tesla, Potter tells investors in a research note. While next week’s Q1 delivery results will undoubtedly reveal downside versus the published consensus, Tesla’s long-term positioning remains attractive, says the analyst. Potter believes Tesla’s “recently-fortified” balance sheet should provide ample liquidity, with no major debt maturities until March 2021. Tesla also benefits from company-specific tailwinds that should partially offset macro weakness in 2020, contends the analyst.
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