Network officials also said voters should expect more of a Koch focus on grassroots activism throughout the 2020 election cycle.Politicsread more
Stores are extending hours and cities are spending on light shows as China tries to encourage consumers to spend more money at night.China Economyread more
Stocks in Asia Pacific edged up in Friday morning trade as a series of developments overnight on the U.S.-China trade front dampened hopes.Asia Marketsread more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
Gunfire erupted on the streets of Washington, D.C., on Thursday night and at least several people were shot, local media reported.U.S. Newsread more
In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
Trump has criticized Facebook numerous times since becoming president, most recently posting on Twitter that the company's proposed digital currency, libra, will "have little...Technologyread more
Republicans and Democrats have long since separated themselves by ideology, leaving each more uniformly conservative or liberal than ever. And now a new data analysis by the...Politicsread more
Asian cities are on the rise and are dominant in the Fintech space.Financeread more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
The Pentagon on Thursday said the recent attack on Saudi Arabian oil facilities were "sophisticated" and represented a "dramatic escalation" in tensions within the region.Defenseread more
(Adds analyst, CEO comments; Updates shares)
June 12 (Reuters) - Tesla Inc shares were down 2% on Wednesday, as analysts remained divided on the electric-carmaker's chances of meeting delivery and production targets in the months ahead, despite Chief Executive Officer Elon Musk's reassurances at an annual shareholder meeting.
Musk told shareholders on Tuesday that Tesla was on track to hit its volume production goal for the year, indicating the demand for its cars remains strong.
"We made as many cars last year as we had in our entire history. And this year, it's going to be pretty similar at least sort of 60% to 80% growth of the total vehicle fleet, maybe more than that, " Musk said.
Analysts at Cowen & Co, however, questioned the 47-year old billionaire's comment, saying "Musk claims that sales have far exceeded production, but the data doesn't suggest".
"Basic microeconomic theory would suggest that goods or services that don't have a demand problem, don't see their prices lowered by half a dozen times in 4-5 months."
The company has lowered prices for its vehicles multiple times in the past few months to boost sales of its models.
In the first quarter ended March, Tesla reported a 31% fall in deliveries, sparking concerns about the company's ability to make profits and meet its delivery targets while it grapples with issues related to cash flow and manufacturing.
However, Baird analyst Ben Kallo, rated four out of five stars for his accuracy on estimates for Tesla, believes "bear arguments will be disproven in the coming weeks and months".
He also expects the carmaker, which witnessed steady demand over the past few weeks, to be cash flow positive in the second quarter.
At least eight Wall Street brokerages cut their price target for Tesla in May to an average of $280.31 a share, according to Refinitiv data. Shares of the company have fallen by around $120 in 2019 and were trading at around $222 before the bell on Wednesday.
Of the 31 analysts who cover the stock, only 12 now recommend buying Tesla shares, while another 12 have a "sell" rating and the rest have "hold".
"There is clearly a somewhat healthy level of demand, but maybe not as aggressive as what Tesla management would like. Maybe galloping growth, not blistering growth," said Roth Capital analyst Craig Irwin.
Irwin rates the stock "buy", with a price target of $238. (Reporting by Tanvi Mehta and Vibhuti Sharma in Bengaluru; Editing by Arun Koyyur and Shinjini Ganguli)