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Fly News Breaks for March 22, 2019
Mar 22, 2019 | 08:52 EDT
Cowen analyst Jeffrey Osborne lowered his Q1 deliveries estimates for Tesla to reflect both state government and third party data that he said suggests deliveries will be weaker than his prior expectations. He cut his Model 3 delivery forecast to 47,500 from 55,000 and lowered his Model S/X delivery forecast to 18,000 from 21,500. Osborne, who expects U.S. demand to be soft until the release of the $35,000 version of the Model 3 in Q2, cut his price target on Tesla shares to $180 from $200 and keeps an Underperform rating on the stock.
News For TSLA From the Last 2 Days
Apr 18, 2019 | 19:03 EDT
Tesla CEO Elon Musk and the SEC have been granted an additional week to resolve their dispute over whether the car maker's founder violated an order restricting his use of social media, Dave Michaels and Tim Higgins of the Wall Street Journal report. U.S. District Judge Alison Nathan told both parties earlier this month to settle the matter, the authors note. Reference Link
Apr 18, 2019 | 17:46 EDT
Tesla CEO Elon Musk and the U.S. Securities and Exchange Commission want more time from a federal court to resolve a dispute over the CEO's use of Twitter, Reuters' Brendan Pierson reports, citing a court filing. A federal judge in Manhattan on April 4 ordered the car maker's founder and the SEC, which had previously requested that Musk be held in contempt of court for violating an earlier deal, to try to reach an agreement and report back by April 18, Pierson says. Lawyers for both parties said in the filing that "discussions are ongoing" and requested another week, until April 25, the deliver their report, the author notes. Reference Link
Apr 18, 2019 | 08:31 EDT
Citi analyst Itay Michaeli lowered his price target for Tesla after updating his model to reflect the recently reported Q1 deliveries. The analyst maintains a Sell rating on the shares.
Apr 18, 2019 | 08:27 EDT
A Tesla vehicle was on fire for hours Wednesday night in Monroeville, Pennsylvania, CBS Pittsburgh reports. "We removed the car from the garage. A Tesla engineer removed the fuse from the battery pack prior to transport, indicating that would make the car safe for transport. We brought it here to Monroeville, arrived around 3:30 in the afternoon, and about 6:20, the car spontaneously caught fire," forensic engineer David Bizzak says. The car was on fire for about four hours before firefighters were able to put out the flames, the report adds. Reference Link