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Tesla's stock fell by as much as 6% amid concerns over President Trump's impending 25% tariffs on foreign autos, with CEO Elon Musk acknowledging the significant impact on the company. Analysts predict lower EV deliveries for the March quarter, with estimates ranging from 353,418 to 390,342 vehicles, as waning sentiment towards Musk and competition from Chinese EV makers like BYD weigh on sales. Additionally, protests against Musk and the anticipation of new models are contributing to short-term sales challenges.
Tesla's stock has plunged 53% from its December highs, facing a ninth consecutive weekly drop with a 7% decline on Tuesday. Contributing factors include new competition from BYD's advanced battery technology, reduced price targets from analysts, declining vehicle sales in China and Europe, and concerns over CEO Elon Musk's divided attention.
UBS and Bernstein Research have rated Ferrari as 'Buy' and 'Outperform' respectively, with target prices of $513 and $575. The luxury car manufacturer is set to release its fourth-quarter financial results on February 4, 2025, amid a stable share price and a market capitalization of approximately €80 billion. Despite slight fluctuations, Ferrari's shares have shown a robust annual performance, increasing over 31% last year.
Tesla is set to report its Q4 results, with analysts from RBC Capital and Wedbush maintaining Outperform ratings and raising price targets to $440 and $550, respectively. They highlight the potential for growth in the self-driving market, contingent on the development of Full Self-Driving software. Options traders anticipate an 8.91% price movement post-earnings, while Wall Street holds a consensus rating of Hold for Tesla stock, reflecting a mix of 13 Buys, nine Holds, and eight Sells, with an average price target suggesting a 14.66% downside.
Trump's tariff threats have unsettled Europe's auto industry, but Ferrari remains largely unaffected, as it produces exclusively in Italy and can pass on potential tariff costs to its affluent customers. Analysts believe that even significant tariffs would not deter demand for Ferrari's luxury vehicles, contrasting with the challenges faced by competitors like Porsche, which may struggle to absorb higher costs.
Lucid Motors raised approximately $1.75 billion through a public offering, a move CEO Peter Rawlinson described as strategic to secure capital for growth and avoid a "going concern" disclosure. Despite having over $5 billion in liquidity, analysts viewed the timing as premature, leading to an 18% drop in shares. Rawlinson emphasized the importance of this capital for ongoing investments, including expanding production and launching new models.
Tom Narayan
People
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Tesla stock declines as tariffs and Musk's ties raise investor concerns
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