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特斯拉跌至两年低点,是时候期待一波回购了?

Tesla, Inc. fell to a two-year low. Is it time to look forward to a wave of buybacks?

Futu News ·  Nov 22, 2022 22:11

Tesla, Inc., who was praised as a "little miracle of the auto industry" by Munger last week, still has no improvement in his share price.

Tesla, Inc. 's share price has been halved so far this year: Tesla, Inc. has fallen 52 per cent by Monday's close.

According to statistics, Tesla, Inc. 's share price is down 59 per cent from its peak in November last year, the second-largest pullback so far, after 60.6 per cent from February to March 2020.

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Since the beginning of this year, the sharp increase in interest rates by the Federal Reserve has dealt a heavy blow to the growth of US stocks represented by Tesla, Inc.. In addition, Musk made a series of reduction actions to Tesla, Inc. in order to acquire Twitter, and Tesla, Inc. 's own negative information constantly, which also played a role in adding fuel to the flames for Tesla, Inc. 's share price to create a new low.

Among them, the most uncomfortable is Tesla, Inc. 's shareholders: the stock price K-line is falling day by day, and the mood of shareholders is gradually collapsing.

Tesla, Inc. shareholder mood K chart Source: bullpen

Under the current situation, there are also great differences in Wall Street's judgment on the future of Tesla, Inc..

More pain to come? Some analysts say Tesla, Inc. 's share price may fall to $100.

Tesla, Inc. 's share price could fall to $100 during the market downturn, said John Roque, head of technology strategy at 22V Research. The problem with highly valued growth stocks like Tesla, Inc. is that when buyers of growth stocks are scared out, there are not many people in the market willing to take over, and there will be no buyers of value stocks, says Roque.

Tesla, Inc. shares are trading at about 31 times expected 2023 earnings, the lowest price-to-earnings ratio since the height of COVID-19 's epidemic, but the S & P 500 is trading at just 17 times expected 2023 earnings. According to Roque's $100 share price forecast, Tesla, Inc. 's price-to-earnings ratio will be slightly lower than the 17 times of the broader market.

He pointed out that no one can tell whether Tesla, Inc. 's share price will reach this level, but no matter what problems the company or industry is facing, it is impossible to really know what level Tesla, Inc. 's share price has to reach in order to be attractive enough. but whether it is the market or the company, we all need to make some changes in order to get Tesla, Inc. stock out of trouble.

Katie Stockton, founder of Fairlead Strategies and a technology trader, believes that Tesla, Inc. 's share price has some support at $166, but the stock's performance is weak on the technical chart.

Tesla, Inc. 's share price rose more than 740 per cent in 2020, followed by a strong year in 2021, up about 50 per cent. The Nasdaq has fallen 32% from its 52-week high. In addition to macroeconomic factors, the news of Tesla, Inc. 's price cut in China also made investors worried about the demand for electric vehicles. Stockton pointed out that if Tesla, Inc. 's share price falls below $166, $150will be the next key point.

Although the bulls are worried, they are firmly optimistic.

Earlier, Morgan Stanley analyst Adam Jonas lowered Tesla, Inc. 's share price target from $350 to $330, arguing that Tesla, Inc. could not be left alone in the context of the global economic slowdown, but maintained his overweight rating on the stock.

It is worth noting thatJonas is Tesla, Inc. 's long-term bulls.Research reports have been issued many times to clarify Tesla, Inc. 's unique market advantages. He has previously said that Tesla, Inc. is in a unique position in the supply chain; more precisely, Tesla, Inc. is five to 10 years ahead of his rivals in dealing with these and other issues.

Jonas points out that many of his customers believe that Tesla, Inc. will not be affected by the slowdown in consumption growth because of his unique position in the electric car market and the universality of the lack of supply, but he disagrees. In his opinion,Tesla, Inc. 's expanding market size is an important factor that makes the company likely to be affected by a slowdown in consumers and fluctuations in the affordability of electric vehicles.

He also thinksTesla, Inc. 's recent price cuts in the Chinese market will affect already fragile market sentiment.

Even so,Jonas remains bullish on Tesla, Inc. for a long time, noting that he believes the company should become a "core shareholding".He maintained his overweight rating on Tesla, Inc., arguing that Tesla, Inc. is likely to take advantage of its cost leadership in electric vehicles to actively expand its user base and earn higher revenue from high-margin software and services over time.

Share price has halved, analyst: you can expect a wave of buybacks next year

As Tesla, Inc. 's share price continues to plummet, investors increasingly expect Tesla, Inc. to start buying back shares to support the share price.

Jeff Windau, an analyst at Edward Jones, an American financial services firm, expectsTesla, Inc. is likely to buy back shares next year, the company's first ever buyback plan.

Windau expects Tesla, Inc. 's board of directors to weigh various factors and finalize the buyback plan.In his view, the issues that Tesla, Inc. 's board needs to consider include: the recent Musk sell-off diluted the share price, whether cash is better for buybacks, and the lawsuit against Tesla, Inc. CEO Musk's compensation package.

In a conference call on Tesla, Inc. 's third quarter results held last month, Musk saidTesla, Inc. is developing a "proper buyback procedure", with a planned repurchase size of between $5 billion and $10 billion.This shows that Musk also believes that Tesla, Inc. 's share price has been undervalued.

035.pngNiu friends, what do you think?

Tesla, Inc. falls endlessly, when will it end?

Is it too radical for analysts to expect the share price to fall to $100?

Will you hold it firmly or choose the opportunity to play?

Welcome to the comments section to chat together!

Edit / phoebe

The translation is provided by third-party software.


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