Analysts are Revising Prices Targets for These 5 Stocks

3. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 72

Shares of Tesla, Inc. (NASDAQ:TSLA) slid over four percent on Thursday, October 20, after RBC Capital cut its price target for the electric vehicle giant from $340 per share to $325 per share.

The price-target cut follows the company’s mixed financial results for the third quarter. Tesla, Inc. (NASDAQ:TSLA) reported adjusted earnings of $1.05 per share, beating the consensus of 99 cents per share. On the downside, its quarterly sales of $21.45 billion missed the expectations of $21.96 billion.

Separately, Tesla, Inc. (NASDAQ:TSLA) also appeared in the second-quarter 2022 investor letter of investment management firm Carillon Tower Advisers. Here’s what the firm said:

Tesla, Inc. (NASDAQ:TSLA), the electric vehicle and clean energy company, is set to recall more than 100,000 cars in China over a potential safety risk and is reportedly delaying a plan to restore production at its Shanghai plant. CEO Elon Musk was reported to have said that the company would cut 10% of salaried staff and freeze hiring due to a bad feeling he has about the economy.”