Sanford C. Bernstein set a $20.00 target price on Intel (NASDAQ:INTC) in a research note released on Friday morning.
Intel (NASDAQ:INTC) PT Set at $20.00 by Sanford C. Bernstein Read Post »
Bernstein Adjusts Price Target on Apple (NASDAQ:AAPL) to $125 From $170, Maintains Market Perform Rating. Apple (NASDAQ:AAPL) has an average outperform rating and a price target range of $118 to $210, according to analysts polled by Capital IQ.
Bernstein Adjusts Price Target on Apple (NASDAQ:AAPL) to $125 From $170 Read Post »
Bernstein analyst Toni Sacconaghi noted that despite positive price discounts, Tesla Q4 deliveries were 405,000 units, below consensus expectations of 418,000 units. Tesla is facing “significant demand issues,” with Q4 book value likely to be less than 0.65 times despite the significant price cuts. Analysts expect demand challenges to persist in 2023, especially with the exception of the 7-seater Model Y, which currently appears to have “no Tesla model” eligible for any Inflation Reduction Act (IRA) tax refund. Analysts said they were “more entangled” with Tesla stock. He believes that many investors are underestimating the scale of the demand challenge facing Tesla and that the 2023/2024 numbers could reset significantly. Sacconaghi is also concerned that the market could come under broader pressure amid rising interest rates/slowing consumer spending, continuing to disproportionately impact highly valued stocks such as Tesla. He maintained the stock’s underperform rating with a $150 price target.