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Bernstein SocGen Group Reiterates Underperform Rating on Tesla (TSLA), PT $120

November 18, 2024 5:56 AM EST

Bernstein SocGen Group analyst Toni Sacconaghi reiterated an Underperform rating and $120.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "Trump is anti-EVs, but TSLA is on a tear. Teslas stock is up 28% since Trumps election victory, despite the fact that the new administration will likely end IRA consumer and battery manufacturing tax credits, potentially lower emissions standards (uniquely impacting Teslas lucrative EV credits), and could increase tariffs on Chinese... More