BofA notes that Tesla has reduced U.S. pricing on its Model 3 and Model Y vehicles by $1,250 and $2,000, respectively. The company has been regularly adjusting prices across its different vehicles based on market conditions, and the firm thinks this latest round of price cuts is likely to reinvigorate investor concerns on whether demand for Tesla vehicles is fading. This is particularly the case after Tesla reported Q3 deliveries that were about 15% below consensus on the Model S/X and 4% below on the Model 3/Y. BofA has a Neutral rating on the shares with a price target of $300.
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