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Wedbush Securities

All articles tagged with #wedbush securities

businessfinance1 year ago

"Tesla's Q1 2024 Delivery Estimates Spark Bearish Outlook and Stock Price Concerns"

Wedbush Securities analyst Dan Ives predicts Tesla's Q1 2024 deliveries to be between 425,000 and 475,000 units, citing a "nightmare" quarter for Tesla China due to soft demand and production adjustments. Despite the challenges, Ives remains bullish on TSLA but lowered the price target to $300. Similarly, Morgan Stanley analyst Adam Jonas reduced Q1 delivery estimates and reiterated an Overweight rating for TSLA, foreseeing potential growth through cost-cutting measures and collaborations.

via TESLARATI|
#businessfinance#china#q1-2024
technology2 years ago

"Musk's Ultimatum: Resolving AI Plans and Power Grab at Tesla"

Tesla is expected to resolve Elon Musk's AI initiative plans in the coming months, with Wedbush Securities maintaining a bullish stance on the company and its AI initiatives. Musk expressed discomfort with growing Tesla's leadership in AI and robotics without having around 25% voting control, and stated that he would consider building AI products outside of Tesla if this control wasn't achieved. Wedbush is confident that an agreement will be reached between Musk and the Tesla board on this issue.

via TESLARATI|
#ai-initiatives#elon-musk#robotics
business2 years ago

Rivian Automotive's Stock Plummets as Price Target is Slashed

Wedbush Securities has lowered its price target on Rivian Automotive to $25, citing low confidence in the management team's investor messaging and execution. Despite remaining bullish on Rivian's growth prospects and potential as a long-term winner in the electric vehicle market, Wedbush believes the company's recent strategic moves have raised its risk profile. Rivian is set to report earnings on November 7, and its shares fell 2.45% in premarket trading.

via Seeking Alpha|
#business#convertible-note-offering#electric-vehicles
business2 years ago

CarMax Soars as Wedbush Declares it Auto Sector's Top Performer

CarMax's stock rose after Wedbush Securities upgraded the auto retailer to an Outperform rating, citing an inflection in growth and improving profitability. Wedbush expects CarMax's comparable sales to turn positive in the next quarter due to easing comparisons and improving industry growth trends. The firm believes CarMax is well positioned to take market share with its inventory mix of affordable older vehicles. Additionally, industry pricing has remained favorable, leading to minimal deterioration in gross profit per unit. Wedbush assigned a 12-month target price of $90 for CarMax.

via Seeking Alpha|
#auto-retailer#business#carmax
finance2 years ago

Analyst predicts tough decision for First Republic

First Republic, a troubled regional bank, may have to continue as a standalone company as no buyer will be willing to take on its unrealized losses, according to Wedbush Securities. The bank has been exploring various options, including a sale, but Wedbush said it essentially has no other choice than to move forward as a standalone company due to the amount of unrealized losses on its balance sheet. Even a sale at $0 a share is unlikely because any buyer would still essentially have to pay billions to absorb those losses.

via Yahoo Finance|
#finance#first-republic#regional-banks