Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Tesla will thrive in the world's largest auto market, according to one Wall Street firm.
Piper Jaffray reiterated its overweight rating on Tesla shares, saying the company's electric car quality is far ahead of its peers in China.
"After meeting with an electric vehicle (EV) trade group this week in Beijing, we still think Tesla has little to fear from Chinese brands, at least based on the current competitive landscape," analyst Alexander Potter wrote in a note to clients Tuesday. "Branding and performance are just as important, and in this regard, we think nobody (least of all Chinese OEMs) can compete with TSLA."
Tesla's China sales rose to $1.07 billion last year from $319 million in 2015, according to an SEC 10-K filing.
Potter reaffirmed his $386 price target on Tesla shares, representing 10 percent upside to Monday's close.
"Anyone who has taken a ride in a Chinese EV will tell you that, like most other Chinese sedans, these vehicles just aren't compelling consumer products," he wrote.
The analyst said China will start an electric vehicle quota system in 2019. Large automakers will be required to purchase electric vehicle credits for 10 percent of total production that year, increasing to 12 percent by 2020.
"Companies that fail to achieve the quotas will be able to buy credits from companies that exceed the quotas," he wrote.
Tesla's stock is up 64 percent this year versus the S&P 500's 14 percent return through Monday.
The company's stock fell 1.4 percent Monday after a report that it fired hundreds of employees. Its shares are up 0.2 percent shortly after the market open Tuesday.
Some investors are also concerned about the company's cash burn and ability to meet its Model 3 production goals.