Tesla's Bearish Outlook Today

Tesla’s Bearish Outlook: Tesla Faces Bearish Outlook Amid Legal Woes; Chinese EV Peers Report Strong January Deliveries

Baird’s Bearish Designation

In the wake of a court decision striking down Elon Musk’s 2018 pay package, Baird labels Tesla as a bearish Fresh Pick, anticipating a negative impact on the stock until further clarity emerges. Baird maintains an Outperform rating and a $300 price target on Tesla shares.

NHTSA’s Intensified Investigation

The National Highway Traffic Safety Administration (NHTSA) elevates its probe into Tesla’s steering control to an engineering analysis, responding to 2,388 complaints. The focus is on understanding conditions leading to and stemming from failures with steering rack parts.

Tesla’s Recall Response

Tesla initiates a recall for 2.2 million U.S. cars following an NHTSA warning about warning light issues. The recall covers specific X, S, Y, and 3 Models, along with the Cybertruck, addressing font size discrepancies in instrument panels.

Chinese EV Peers’ January Deliveries

XPeng (XPEV) records a 58% YoY increase with 8,250 Smart EVs delivered, while Li Auto (LI) achieves a remarkable 105.8% YoY growth, delivering 31,165 vehicles. Nio (NIO) reports 10,055 deliveries, marking an 18.2% YoY increase.

Plug Power’s Positive Momentum

Roth MKM upgrades Plug Power (PLUG) to Buy, citing confidence in the smooth ramp-up of operations at the Georgia green hydrogen plant. The firm sets a $9 price target, up from $4.50, addressing concerns about backlog and margin visibility.

Conclusion: As Tesla navigates legal challenges, Chinese EV peers showcase impressive growth, and Plug Power gains momentum, the electric vehicle and clean energy sector remains dynamic for investors.

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Disclaimer: This content is for informational purposes only. Always conduct your own research and analysis before making investments. Past performance is not indicative of future results.