Tesla price target lowered to $299 from $348 at Truist

Truist analyst William Stein lowered the firm’s price target on Tesla to $299 from $348 but keeps a Buy rating on the shares. The company’s Q4 deliveries were about 5% below consensus and the near-term pricing / demand trends are now worse than they were a few months ago, the analyst tells investors in a research note. Stein is also cutting his FY23 EPS view on Tesla to $6.05 from $6.92, though he continues to expect the company to grow units at a "rapid pace", reaching 10M by 2030.