Tesla Car Sales Estimate Cut 10% by Morgan Stanley on Virus Woes
This article is for subscribers only.
Tesla Inc. will probably sell about 10% fewer cars this year than previously expected as the coronavirus outbreak weighs on demand for vehicles, Morgan Stanley said.
The bank slashed its 2020 sales target for Tesla to deliver 452,000 cars from the previous estimate of 500,000, according to a note to clients Thursday. Morgan Stanley reduced its price target on the stock to $480 a share from $500 and kept its underweight rating.