Why Shares of Tesla Are Falling to End the Week
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Shares of Tesla fell 3.4% amid broader market struggles due to higher-than-expected inflation data. Deutsche Bank analyst Edison Yu maintained a buy rating but lowered the price target from $420 to $355, citing reduced delivery estimates for the first quarter and full year. Concerns stem from weakness in Europe and changes in the Model Y. Despite a challenging outlook, some analysts remain optimistic about future developments like robotaxis. The upcoming first-quarter earnings report will be crucial for stock movement, with Tesla trading at a high forward earnings ratio.
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