Wells Fargo analyst Colin Langan says that available Tesla (TSLA) August sales data remains weak despite the end of IRA on Sept 30. Of the 3 major markets it tracks, Wells says August Tesla deliveries are trending down 9% year-over-year, though 37% higher month-over-month. Despite the month-over-month pop, Q3 deliveries are still at risk vs consensus, the firm adds. Wells has an Underweight rating on the shares with a price target of $120.
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