Morgan Stanley analyst Ravi Shanker reiterated an Underweight rating on the shares of United Parcel Service Inc (NYSE: UPS) and lowered the price target to $100 (39% downside) from $148. The analyst thinks UPS' normalized EPS would be $8 - $9 versus $10 before and compared to the pre-pandemic level of $7.50. In addition, significant idiosyncratic risk from the Amazon.Com, Inc. (NASDAQ: AMZN) business potentially going from 'Glide Down, to 'Glide Out' in 2023 and union contract renegotiations cou Read More...
Motley Fool
Why Tesla Stock Slammed on the Brakes Monday Morning
The catalyst that sent the electric vehicle (EV) maker plunging was quarterly vehicle deliveries that fell short of expectations. In a press release that dropped Sunday, Tesla revealed its third-quarter production and delivery numbers, and while the growth was robust, investors wanted more. In its press release, Tesla addressed the issue, saying, “Historically, our delivery volumes have skewed toward the end of each quarter … [but] as our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity.”
