Pricing among important issues into Tesla’s analyst day, says Bernstein

Bernstein analyst Toni Sacconaghi believes that the most important issue for Tesla going into its analyst day is the status of its next-gen, lower cost vehicle platform. There is no expectation for a product announcement, but incremental detail on pricing, offering and especially timing is most important, the firm adds. Bernstein does not believe that Tesla will be able to deliver such an offering in high volume prior to 2025, and that such timing will make it difficult for Tesla to grow volumes at 50% without incremental price cuts on existing models, the firm argues. Bernstein has an Underperform rating on the shares with a price target of $150.