Tesla event could see ‘sell the news’ reaction, says Barclays

Barclays believes Tesla’s investor day event could see a "sell the news" reaction today given the little incremental disclosure on financials and no detail of the next generation $25,000 model. While there is still a "significant question ahead" on execution on the Tesla’s "incredibly ambitious" growth strategy, the investor day demonstrated why the company is ahead of legacy automakers in the path to global adoption of electric and software-defined vehicles, the analyst tells investors in a research note. One of the disappointments for investors was the lack of a vehicle unveil or new specs, which CEO Elon Musk said would be released at a later date, the firm adds. It keeps an Overweight rating on Tesla with a $275 price target.