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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (21306)9/11/2018 10:00:47 AM
From: sixty2nds1 Recommendation

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seekingalpha.com
Nomura to the sidelines on Tesla

Nomura Instinet downgrades Tesla (NASDAQ: TSLA) to a Neutral rating after having the EV automaker lined up with a Buy rating.

The Japanese investment firm is moving to the sidelines to wait out what happens with Tesla management after pointing to the "erractic" behavior of CEO Elon Musk. "Notwithstanding improving fundamentals, we believe that Tesla is in need of better leadership (an about face) and are moving to the sidelines until we see what happens with management," updates Nomura.

The long-time Tesla bullish firm titled its report to clients "No Longer Investable" in reference to the stock.

Nomura lowers its price target on Tesla to $300 from $400, whil keeping a positive long-term outlook on the company's ability to reach 1M deliveries by the early part of the next decade if the management situation is cleared up.

Shares of Tesla are down 2.11% in premarket trading to $279.50.
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