Tesla pullback brings attractive entry point, says Credit Suisse

Credit Suisse analyst Dan Levy says Tesla’s long-term opportunity remains intact, making him view the recent pullback in the stock as an attractive entry point. He keeps an Outperform rating on the shares with a $1,125 price target after visiting the company’s Fremont facility. While the manufacturing focus ahead for Tesla is on its new gigafactories in Shanghai, Berlin and Austin, the visit “reminded us that Fremont has shown ongoing manufacturing kaizen,” Levy tells investors in a research note. Nonetheless, the analyst expects Tesla’s near-term, specifically Q2, to reflect “some regression” in terms of margins and total deliveries, led by the challenges to production at Shanghai.

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