Advertisement
Australia markets closed
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • AUD/USD

    0.6528
    +0.0010 (+0.15%)
     
  • OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD

    2,254.80
    +16.40 (+0.73%)
     
  • Bitcoin AUD

    107,289.45
    -1,802.34 (-1.65%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • AUD/EUR

    0.6048
    +0.0014 (+0.23%)
     
  • AUD/NZD

    1.0908
    +0.0005 (+0.05%)
     
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NASDAQ

    18,254.69
    -26.15 (-0.14%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • Dow Jones

    39,807.37
    +47.29 (+0.12%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     

Tesla stock down after Piper Sandler slashes price target

Yahoo Finance's Brian Sozzi discusses Piper Sandler's rating of Tesla stock.

Video transcript

[MUSIC PLAYING]

BRIAN SOZZI: All right, and before we head to break, let's look at Tesla. Piper Sandler Analyst Alexander Potts slashed his price target estimates on Tesla owing to COVID-related weakness in the key market of China.

The analyst still sees Tesla as an overweight or a buy equivalent, but now sees fair value to $1,035 a share compared to about $1,260 previously. Potts added, he still views Tesla as a quote, "cornerstone holding in an advanced mobility portfolio."