Reuters
Tesla shares start 2023 lower on worries over weak demand, logistical issues
At least four brokerages cut their price targets and earnings estimates, looking for more downside after the stock suffered its biggest annual loss since going public in 2010. That still makes it the world’s most valuable automaker, even though its production is a fraction of rivals such as Japan’s Toyota Motor Corp. “Demand overall is starting to crack a bit for Tesla and the company will need to adjust and cut prices more especially in China, which remains the key to the growth story,” Wedbush Securities analyst Dan Ives said.