A day after Tesla (TSLA) CEO Elon Musk turned the big 50, UBS is sending him a belated digital birthday gift.
UBS analysts led by Patrick Hummel slashed the firm’s price target on Tesla’s stock to $660 from $730. The group maintained its Neutral rating on Tesla shares. But, the analysts cut their EPS estimates for 2021 by 11% and by 10% for 2022.
In an extensive dive into the EV industry’s outlook, UBS voiced several noteworthy concerns for the diehard Tesla bulls.
“While results from our…
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