Investor Alert

Market Pulse Archives

June 14, 2021, 12:11 p.m. EDT

Tesla price target cut to $812 by Canaccord

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Tesla Inc. (TSLA)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Claudia Assis

Analysts at Canaccord Genuity on Monday cut their price target on Tesla Inc. /zigman2/quotes/203558040/composite TSLA -0.91% shares to $812, from $974, on disappointment that the electric-car maker has nixed the Model S Plaid Plus, which would be the sedan's top trim. Tesla last week launched top-of-the-line Model S Plaid in an effort to breathe new life into the sales of the sedan, which has not changed much in its nearly 10-year existence. The "Plaid Plus" trim "was reportedly going to be the first to feature the new 4680 (battery) cell design. This signals to us the new cell format isn't ready for production just yet, and cell production capacity constraints for energy storage products like Powerwall remain," the Canaccord analysts said. "Coupling this with macro near-term uncertainty surrounding inflation and Fed policy causing a sector rotation out of growth and into value names, leads us to our PT reduction." The $812 target implies a 31% upside to Monday's stock price. Tesla shares have lost 12% this year, contrasting with gains around 13% for the S&P 500 index. /zigman2/quotes/210599714/realtime SPX +1.01%

US : U.S.: Nasdaq
$ 643.38
-5.88 -0.91%
Volume: 14.60M
July 23, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$619.79 billion
Rev. per Employee
+44.31 +1.01%
Volume: 1.78B
July 23, 2021 5:16p

Get news alerts on Tesla Inc. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.