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AP, April 25 (Editor Zhao Hao) On Wednesday (April 24), the US electric vehicle manufacturer Tesla The company's share price opened sharply, rising nearly 11.5% to $161.40 per share, reaching a maximum of $167.97 per share within the day, an increase of nearly 16%.
The financial report released by Tesla after hours yesterday showed that the company recorded a revenue of US $21.3 billion in the first quarter, a year-on-year decline of 9%, the first year-on-year decline since the beginning of 2020; Net profit was US $1.129 billion, down 55% year on year; Adjusted earnings per share of $0.45 were lower than market expectations.
However, Musk staged a "big reversal" at the press conference. It demonstrated the taxi hailing program that will be integrated into Tesla products, and announced that it will release new models early. The robot taxi network it is developing is also making good progress. Musk also stressed that Tesla is an AI robot company, not an automobile company.
Musk also said forcefully that if someone thinks Tesla cannot solve the problem of automatic driving, they should not be investors in the company. According to media analysis, Musk downplayed most of the content in the performance report, successfully allowing investors to shift their attention to other places.
After the financial report was released, Bank of America Securities upgraded Tesla's stock rating from "neutral" to "buy" and set its target price at $220. John Murphy, an analyst at the bank, believes that positive catalysts have begun to emerge and Tesla has basically eliminated the bad news. If the company follows its plan to develop like that, its share price will rise sharply.
However, Bank of America Securities is still a minority, and many investment banks have chosen to lower their target price for Tesla, UBS The price has been lowered from $160 to $147, which is lower than the current share price; "Long term majority" Wedbush was also reduced from $300 to $275.
Wedbush analyst Daniel Ives wrote that Musk laid the foundation for Tesla's growth strategy last night, which is really what Tesla needs. However, he added that the market is paying more attention to hybrid electric vehicles, and Tesla will need its next generation product line to reverse this trend, otherwise the pressure of demand storm will become greater and greater.
UBS analyst Joseph Spak believes that Tesla's strategy has brought about a series of new problems, such as "What are the cheap new models?" "In addition to saving costs, what are their target buyers?" Spak also mentioned that the "unboxed" manufacturing method may be difficult to achieve significant cost reduction opportunities.
Itay Michaeli, an analyst at Citigroup who raised the target price from 180 to 182, believes that this financial report can still see a more positive side
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Editor in charge: Wang Xuning
