Tesla (TSLA) Bears the Brunt of a Price Target Cut

Tesla (TSLA) Bears the Brunt of a Price Target Cut

Just a few days after Tesla CEO Elon Musk admitted to facing challenges the production of its Model 3 assembly line has been temporarily shut down.

Tesla now doesn't have a battery degradation warranty on its Model S and X luxury EVs, but it does guarantee the Model 3 will retain 70 percent battery capacity after 120,000 miles for the long-range battery and 100,000 miles for the shorter-range version.

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A Tesla spokesperson said that the assembly line is on pause in order to "improve automation", without providing any more details. "We got complacent about some of the things that we felt were our core technology". It also bodes well for the used market for EVs as potential buyers could be put off buying a used model due to the worry of having to replace the expensive battery before too long. "This-this should have been staged", he said.

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A pro-Union Facebook page for Tesla employees includes a post from Friday about increased work hours for those on Model S and X production lines. But the Boring Company is designing and planning to build a network of high-speed tunnels for mass transportation, which Musk has referred to as "an urban loop system". "Yes, excessive automation at Tesla was a mistake", he tweeted. To be precise, my mistake.' He told CBS in his interview with the channel that the company had been forced to scrap an elaborate setup involving robots and conveyor belts in the Fremont factory, hiring in human staff instead. The stock witnessed -8.05% declines, -11.13% declines and -15.3% declines for the 1-month, 3-month and 6-month period, respectively. However, Musk remains optimistic.

No wonder, says Christine Poole of GlobeInvest Capital Management, since the company keeps on missing its production targets. "This has very frequently been why people have underestimated Tesla, because they would look at Tesla's - what Tesla's done in the past and use that as proxy for what we're able to do in the future".

That total included 9,766 Model 3s, whose output increased "exponentially" from the previous three-month timeframe, Tesla said. The average FCF of a company is determined by looking at the cash generated by operations of the company. Vetr downgraded shares of Tesla from a buy rating to a hold rating and set a $331.97 price objective for the company.in a research report on Tuesday, January 9th.

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