Connect with us

Stock Market

More analysts cut targets for Tesla stock by Investing.com

Published

on


© Reuters. ‘It’s too late to sell, too early to buy’: More analysts cut targets for Tesla (TSLA) stock

By Sinad Karametovic

Tesla (NASDAQ:) share price closed at $149.87 yesterday, its lowest daily close since November 2020. Despite the rally earlier in the day in Elon Musk’s poll about resigning as CEO of Twitter, Tesla stock is still up. able to close 0.24% in the red.

At least two sell-side analysts have lowered their price target at electric vehicle (EV) manufacturer Today. Evercore ISI analysts cut their price target by $100 to $200 per share on Tesla stock, citing weak demand.

“As we continue to view TSLA as having a leading EV gross gross margin advantage from global scale, vertical integration and the benefits of a US IRA, it is impossible to ignore that investors are already well aware of these benefits but must now also confront demand assumptions for ’23-25.” , they wrote to customers in a note.

Analysts are increasingly concerned about the “drift of Tesla’s thesis from 1) unlimited demand/Rev to 2) a ‘story’ of margin, which has occurred over the past 6-12 months.

They also noted that Tesla stock is now trading below the $150-$163 support area, which was seen as an “important battle line of defence.”

Analysts added: “In the short term, it is too late to sell, but it is also too early to buy (net buy).”

Daiwa analysts also lowered their price target for Tesla stock to $177 from a previous $240 per share, citing Twitter’s estimation and poor macro environment. The lower price target reflects lower estimates as Daiwa now expects to deliver 5% fewer units in 2023.

“We continue to view Tesla stock positively on a fundamental basis, given the company’s increasing competitive advantage from the DIA and potential innovations such as the 4680 battery with dry electrode process,” the analysts wrote in a note.

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Stock Market

Red Flags That Your Spouse Is Hiding Money (And What To Do About It)

Published

on

By

Marriage can be hard enough without one spouse hiding money from the other.

When financial infidelity occurs in the form of “hidden cash,” a marriage or a live-forever relationship can easily be ended.

The truth is About 30% of American couples suffer from financial infidelity. Other evidence shows that more than 75% of couples describe the hidden money situation as negative and common 10% of these scenarios end in divorce.



Source link

Continue Reading

Stock Market

US judge orders Norwegian Cruise Line to pay $110m for use of Cuba port By Reuters

Published

on

By


© Reuters. Norwegian American Airlines cruise ship Marina arrives in Havana Bay, Cuba on March 9, 2017. REUTERS/Alexander Meneghini/File/File Photo

Written by Brian Ellsworth

MIAMI (Reuters) – Norwegian Shipping Line (NYSE) has to pay $110 million in compensation for the use of a port confiscated by the Cuban government in 1960, a US judge said Friday, marking a significant milestone for Cuban Americans. Who are seeking reparations for the Cold War era. Assets confiscation.

The decision by US District Judge Beth Bloom in Miami follows her decision in March that use of the Havana Cruise Terminal constituted smuggling of forfeited property belonging to the plaintiff, Delaware-registered Havana Docks Corp.

The decision read: “The judgment is made in favor of Plaintiff Havana Docks Corporation and against Norwegian Cruise Line Holdings, Ltd.”

“The plaintiff was awarded $109,848,747.87 in damages,” it says, adding that the Norwegian must also pay an additional $3 million in legal fees and costs.

Norwegian Cruise Line did not immediately respond to a request for comment.

Cuban President Miguel Diaz-Canel has sharply criticized the Helms-Burton Act, calling it an extraterritorial violation of international law.

Havana Docks also sued Carnival Cruise Lines (NYSE: ), Royal Caribbean (NYSE:) and MSC under the Helms-Burton Act, which allows US citizens to sue over the use of property seized in Cuba after 1959.

The ruling could fuel more lawsuits by Cuban exiles pursuing claims, worth $2 billion, according to one estimate, over asset seizures under late Cuban leader Fidel Castro.

It may also serve as a reminder to multinational companies of the complexities that can come with doing business in Cuba.

In 2016, US cruise ships began traveling to Cuba for the first time in decades after a détente negotiated by former President Barack Obama eased some provisions of a Cold War US embargo.

But the Trump administration in 2019 ordered a halt to all such cruises amid efforts to pressure Cuba over its support for Venezuelan President Nicolas Maduro, Washington’s ideological foe.

The Trump administration has also allowed US citizens to sue third parties for using property seized by Cuban authorities, a provision of the Helms-Burton Act that every previous president has waived since the law was passed in 1996.

Havana Docs says Cuba, which has been under a US trade embargo for decades, has never compensated it for taking the drug.

The four cruise lines sued in 2019 in the US District Court for the Southern District of Florida. Bloom in March held the companies liable for damages under the Helms-Burton Act, also known as the Libertad Act.

According to the US-Cuban Economic and Trade Council, a nonprofit organization that provides information on relations between the two countries, 5,913 validated claims related to property seized in Cuba represent an estimated liability of nearly $2 billion.

Forty-four lawsuits have been filed under Title III of the Helms-Burton Act, the organization says.

“For the current plaintiffs of Cuban descent, (the decision) will give them a moment of relief,” said John Cavulich, the group’s president. “It will give them a moment to say ‘You can run but you can’t hide,'” Cavulich said.

Source link

Continue Reading

Stock Market

Is a Royal Caribbean or Carnival beverage package worth it?

Published

on

By

An all-inclusive beverage package that gives you access to beer, wine, liquor, bottled water, soda, specialty coffee, and even shakes/juices may cost more than your cruise fare.

This is especially true right now when many cruise cabins are being sold at discounted prices while the drinks package prices have gone up.

Deciding whether to purchase a drink package is a challenge because you have to estimate whether you will be drinking enough to cover the cost. Or, more importantly, whether you’d spend more if you decided not to purchase a drink package.



Source link

Continue Reading

Trending