Lackluster demand and overseas Model 3 delivery problems will weigh on Teslas (NASDAQ: TSLA) Q1 results, according to a new warning from RBC Capital.
The mediation repeated its underperformance on stocks and slashed its price target to $ 210 from $ 245, a 14% reduction that involves more than 20% disadvantages over the next year.
RBC Capital also reduced its first quarter model 3 delivery notification to 52,500 from 57,000, while in 2019, "forecast of 261,000 Model 3 [deliveries] dropped from 268,000 earlier. Our 2020 forecast of 347,500 remains unchanged."
TSLA [-23% premarket