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TSLA Jun 2024 415.000 put

OPR - OPR Delayed Price. Currency in USD
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195.550.00 (0.00%)
As of 03:59PM EDT. Market open.
Full screen
Previous Close195.55
Expire Date2024-06-21
Day's Range195.55 - 195.60
Contract RangeN/A
Open InterestN/A
  • Yahoo Finance Video

    Citi cuts Tesla price target on delivery miss, market saturation

    Tesla (TSLA) shares have fallen over 30% so far in 2024, with several analysts cutting their price targets on the stock. Citi is the latest group to lower its price target, setting the figure at $180 per share from $196. The analyst behind the call, Citi Autos & Auto Parts Analyst Itay Michaeli, joins Yahoo Finance to discuss the challenges ahead for Tesla.  Michaeli explains that the reduced price target reflects Tesla's first quarter delivery miss and other April data points. He explains that Tesla's challenges are the outcome of its own success over the years, having created a saturated effect on vehicle sales in certain regions, such as the US. "When you do have these levels of saturation, even price cuts don't do much to stimulate demand," Michaeli says. While these challenges are "solvable," the Citi analyst adds that the issues are having a bigger effect than expected on the automaker. On Tesla's robotaxi unveiling, Michaeli notes his appreciation for the company's focus on autonomous vehicles, calling autonomous driving the "most powerful mobility mega-trend out there." However, he outlines a scenario in which Tesla does not sufficiently discuss deployment challenges during the robotaxi's unveiling.  For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This article was written by Gabriel Roy.


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