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He also hiked his price target to $92 from $59, suggesting shares rallying 48.3% from where they closed on Tuesday. Analyst Jessica Reif Ehrlich raised her price target to $370 from $315, suggesting 22% upside from Tuesday's close. — Hakyung Kim 6:04 a.m.: Citi raises price target on Amazon Amazon is becoming a more profitable organization, according to Citi. The price target increase comes on the heels of Amazon's new grocery delivery subscription launch. He cited increased operating income projections amid strong top-line trends for his price target increase.
Persons: Tesla, Rob Sanderson, Sanderson, Forrest Li, Hakyung Kim, Jessica Reif Ehrlich, — Hakyung Kim, Ronald Josey, Josey, GenAI, Kim, Goldman Sachs, Mark Delaney, Delaney, Goldman, Joseph Spak, Spak, TSLA, Wells Fargo's Colin Langan, Langan, James Lee, Lee, Fred Imbert Organizations: CNBC, Mizuho, Bank of America, Spotify Bank of America, Spotify, Citi, Amazon Web Services, Revenue, UBS, Summer
Tesla is due to report earnings after the bell Tuesday, with Wall Street looking for any sign of a reprieve from this year's struggles. Here's the company's setup heading into the report, what analysts expect and which product updates analysts and investors are going to focus on. Big earnings drop expected For the first quarter, analysts polled by LSEG expect Tesla to report earnings of 51 cents per share, which represents a 39.8% year-over-year decline in earnings. Wells Fargo's Colin Langan maintained his underweight rating and cut his price target to $120 a share, citing poor fundamentals. Deutsche Bank's Emmanuel Rosner downgraded the stock to hold from buy and slashed his price target to $123 a share.
Persons: Tesla, Tom Narayan, Itay Michaeli, Wells Fargo's Colin Langan, Deutsche Bank's Emmanuel Rosner, Rosner, Morgan Stanley's Adam Jonas, Jonas, Elon Musk, Musk, America's John Murphy, Murphy, Deutsche Bank's Rosner, Levy Organizations: Management, RBC, LSEG, Citi, Deutsche, EV, Reuters, America's, Barclays, Tesla
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect more near-term downward pressure on Tesla stock, says Wells Fargo's Colin LanganColin Langan, Wells Fargo senior equity analyst, joins 'The Exchange' to discuss the downward momentum of Tesla stock, the outlook for the auto industry, and more.
Persons: Wells Fargo's Colin Langan Colin Langan, Wells Locations: Wells Fargo
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk's commentary on Tesla's margins was a bit of a surprise, says Wells Fargo's Colin LanganColin Langan, Wells Fargo equity analyst, joins 'Squawk Box' to break down Tesla's quarterly earnings results, what's at stake for the company, and more.
Persons: Elon, Wells Fargo's Colin Langan Colin Langan, Wells, what's Locations: Wells Fargo
Barclays analyst Dan Levy, for example, lowered his target on Tesla shares to $225 from $250, saying that a "cloudy path ahead reinforces some downside risk." Guggenheim left a sell rating and $132 price target in place. "We expect consensus estimates to come down on what will likely be interpreted as a cautious outlook with reduced visibility," wrote Citi's Itay Michaeli. Michaeli lowered Citi's Tesla price target to $224 from $255 a share, implying about 8% upside from Wednesday's close. The bank remains on the sidelines with a neutral rating on Tesla shares, awaiting a "more convincing entry point," he wrote.
Persons: Tesla, Morgan Stanley's Adam Jonas, Joseph Spak, Dan Levy, Wells Fargo's Colin Langan, Emmanuel Rosner, Guggenheim, Ronald Jewsikow, Bernstein's Toni Sacconaghi, Itay, Goldman Sachs, Mark Delaney, — CNBC's Michael Bloom Organizations: Wall Street, UBS, Barclays, Deutsche Bank, EV Locations: Wednesday's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe next wave of UAW strike will hit the most profitable vehicles, says Wells Fargo's Colin LanganColin Langan, Wells Fargo automotive and mobility analyst, joins 'Squawk Box' to discuss the latest in UAW strike, why he believes the strike could go on for 45 days and lead to catastrophic consequences, the impact on automakers, and more.
Persons: Wells Fargo's Colin Langan Colin Langan, Wells Organizations: UAW Locations: Wells Fargo
The UAW opens auto contract negotiations with Stellantis today, Ford on July 14, and General Motors on July 18. "As the past has clearly shown, nobody wins in a strike," Reuss said in a Wednesday column in the Detroit Free Press. watch nowGM's last offer was made Sept. 14, ahead of the union initiating a "Stand Up Strike" at one assembly plant each for GM, Ford Motor and Stellantis. UAW President Shawn Fain said Monday the strikes will expand at noon Friday unless "serious progress" is made in negotiations. Late Monday, Ford released a lengthy statement fact-checking comments made by Fain, including auto worker wages, company profits and stock buybacks.
Persons: Shawn Fain, Bill Pugliano, Mark Reuss, Reuss, GM's, Wells Fargo's Colin Langan, Langan, Andrew Harrer, Ford, Fain, Jim Farley, He's, We've, Farley, CNBC's Phil LeBeau, he's Organizations: United Auto Workers, Sterling Heights Assembly, UAW, Ford, General Motors, Getty, DETROIT, Detroit automakers, General, Detroit Free Press, GM, Ford Motor, Stellantis, General Motors Co, Chevrolet Silverado, Auto, Bloomberg Locations: Sterling Heights, Sterling Heights , Michigan, Stellantis, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio, Detroit , Michigan
Rivian Automotive 's stronger-than-expected results could mean "accelerating growth" from here, though concerns remain for the electric vehicle maker, according to some Wall Street analysts. He also kept a $40 price target, implying the stock can nearly quadruple, jumping 188% from Tuesday's close. Meanwhile, Morgan Stanley's Adam Jonas kept an overweight rating on the stock, with a $24 price target. He has a $14 price target on the stock. "Q1 showed q/q improvement in cost, but significant progress remains to reach their positive 2024 gross margin market," Langan wrote on Tuesday.
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