Wedbush Analyst Issues "Code Red" Warning on Tesla (TSLA) Ahead of Q1 Earnings
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Wedbush analyst Dan Ives has issued a "code red" warning for Tesla (TSLA) ahead of its Q1 earnings, citing concerns over brand damage, falling demand, and CEO Elon Musk's distractions. Ives emphasized the need for Musk to focus on Tesla to restore investor trust, predicting a potential 15%-20% demand destruction. Despite a 40% decline in TSLA stock this year, Ives maintains a bullish long-term outlook, reiterating a Buy rating but lowering the price target to $375. Analysts expect Q1 EPS to decline 4.4% year-over-year, with revenue slightly increasing to $21.45 billion.
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