Phillip Securities analyst Jonathan Woo downgraded Tesla to Neutral from Accumulate with a $175 price target. The near-term outlook for Tesla “looks quite bleak, with the company set on sacrificing margins and growth also slowing,” the analyst tells investors in a research note. The firm cites near-term headwinds for the downgrade but says its longer-term thesis of Tesla leveraging its services and software-like margins from full-service driving and supercharging remains unchanged.
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