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Tesla Price Target Cut For 5th Time In 4 Months

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RBC Capital Markets analyst Joseph Spak cut his Tesla price target for the fifth time this year. Tesla's gross margins were worse than previously thought, Spak said in a report on Monday. The electric-car maker's capital raise announced last week was needed, but "could have been done earlier from a greater position of strength," the analyst said. Watch Tesla trade live. Tesla's $2.4 billion recent capital raise has been well-received by Wall Street analysts covering the stock, but it's not stopping them from tempering their earnings expectations and chopping down price targets.

Added on the 07/05/2019 08:59:39 - Copyright : Wochit

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