Tesla (TSLA) late Wednesday reported fourth-quarter results that were below Wall Street’s estimates as its margin nearly halved year over year while the electric vehicle manufacturer said volume growth this year will likely trail the rate achieved in 2023. Revenue increased 3% year over year to $25.17 billion but trailed the consensus on Capital IQ for $25.76 billion. Tesla reported adjusted per-share earnings of $0.71, down from $1.19 a year earlier and below the Street’s view of $0.74. The stock was down 3.4% in after-hours trade. The company said in a shareholder deck that sales benefited from higher deliveries and foreign exchange gains but were weighed down by lower average selling prices, which also hurt margins. Operating margin shrank by 784 basis points year over year to 8.2% amid costs associated with Cybertruck’s production ramp and other expenses,Tesla said. “Our team remains focused on growing our output, investing in our

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month target $25 to $275 on a ’25 P/E of 50x, justified by long-term growth expectations. We lower our adjusted EPS estimates by $0.85 to $3.90 for ’24 and by $0.75 to $5.50 for ’25. TSLA posted Q4 adjusted EPS of $0.71 vs. $1.19 (-40%), three cents shy of consensus. Revenue rose 3.5% to $25.17B ($590M below consensus) and gross margin contracted 620 bps to 17.6% (50 bps below consensus). We think Wednesday’s Reuters report that TSLA plans to launch its long-awaited mass market EV model (a compact crossover code named “Redwood”) with first production as early as mid-2025 could be the catalyst the stock needs after some profit taking so far in January after shares more than doubled in 2023. While the bottom-line

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