Tesla may be stuck in "production purgatory" that could pressure the stock, according to Redburn Atlantic.
The firm initiated coverage of the Elon Musk's EV maker on Wednesday with a sell rating and a $170 per share price target.
EV sales began slowing in 2023 as consumers and businesses signaled caution toward going fully electric.
The companies that will benefit most in the new EV landscape, the analyst added, will "iterate best-in-class EV platforms and scale desirable models to support high utilization at lower unit costs."
Analysts polled by FactSet forecast 73 cents per share in earnings on revenue of $25.6 billion.
Persons:
Adrian Yanoshik, Tesla, Yanoshik, Hertz
Organizations:
Elon Musk's, EV, Apple, Nvidia, Wall Street, FactSet