Deutsche Bank analyst Edison Yu launched coverage of Tesla stock with a Buy rating and a $295 price target.
The European Union is preparing to slightly reduce the additional tariff rates proposed for electric vehicles that Tesla Inc. (NASDAQ:TSLA) and other carmakers import from China, Bloomberg reported on Tuesday citing people familiar with the matter. The report said that Tesla’s proposed tariff rate will be lowered to just under 8%, down from the originally planned 9%. EU member states are scheduled to vote on the final tariff proposal, which is set to take effect in November.
Monday’s news could be a smart decision to slash costs or signal a shift in the technology that powers self-driving.