Home Business Canaccord Genuity slashes Tesla value goal, citing potential delays in battery program

Canaccord Genuity slashes Tesla value goal, citing potential delays in battery program

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Tesla CEO Elon Musk speaks at a supply ceremony for Tesla China-made Mannequin 3 in Shanghai, east China, Jan. 7, 2020.

Ding Ting | Xinhua Information Company | Getty Pictures

There are potential hiccups in Tesla‘s battery improvement which have lowered the ceiling for the inventory, in accordance with funding agency Canaccord Genuity.

Elon Musk’s auto firm kicked off deliveries of its new Model S Plaid last week, however Tesla scrapped the next value model of the automotive.

Canaccord analyst Jed Dorsheimer praised the Plaid in a be aware to purchasers mentioned the failed upgraded model might sign struggles for Tesla’s battery enterprise. Dorsheimer reduce his value goal on the inventory to $812 per share from $974.