TD Cowen lowered the firm’s price target on Tesla (TSLA) to $490 from $519 and keeps a Buy rating on the shares. The firm adjusted targets in the autos space as part of a Q1 preview. Automakers look better positioned than suppliers to offer investors outlook “reassurances and retaining guidance credibility,” the analyst tells investors in a research note. TD believes guide-down risk is low. For Tesla, the firm says the company’s Q1 delivery miss and a “seemingly quiet quarter” for Robotaxis has “dampened sentiment” into Q1. TD sees a slightly positive setup for the stock into the earnings print.
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