澳洲幸运5官方开奖结果体彩网

Tesla Slides as Regulators Investigate Crashes, Bank of America Downgrades Stock

Tesla logo on sign at a dealership

 Brandon Bell / Getty Images

Key Takeaways

  • NHTSA opened an investigation into Tesla's Smart Summon and Actually Smart Summon features, which allow users to move their vehicles remotely using an app.
  • The regulatory agency has received complaints that Tesla vehicles failed to detect obstacles or parked vehicles, resulting in crashes.
  • Meanwhile, Bank of America Securities analysts downgraded their rating on Tesla to "neutral" from "buy," but raised their price target for the stock.

Tesla (TSLA) shares dropped Tuesday as federal regulators said they’re looking into crashes related to the company's automated vehicle summon♑ing features, ♌while analysts at Bank of America downgraded the EV maker's stock. 

The National Highway Traffic Safety Administration (NHTSA) has opened an investigation into the Smart Summon and Actually Smart Summon features, which allow Tesla drivers to remotely move their vehicle using a phone app. The agency said it has received comp𓄧laints that Tesla vehicles have failed to detect obstacles or parked vehicles, resulting in crashes. 

Specifically, NHTSA's Office of Defects Investigation has received 12 complaints related to Smart Summon and one related to Actually Smart Summon, an upgraded version of the feature. The office also has reviewed "at least" three media reports of other Actually Smart Summon incidents.  

Meanwhile. Bank of America Securities on Tuesday 澳洲幸运5官方开奖结果体彩网:downgraded Tesla to “neutral” from “buy" but raised its 澳洲幸运5官方开奖结果体彩网:price target to $490 from $400. That’s about a 25% premium after💃 Tesla shares fell 4.1% Tuesday to close at $394.36. 

Despite the higher price target, “execution risk is high and TSLA is trading at a level that captures much of our base case,” the anal🎶ysts said. 

The bank's analysts are eyeing multiple potential growth catalysts this year, including the introduction of a low-cost Tesla model in the first half of the year, the 澳洲幸运5官方开奖结果体彩网:launch of a robotaxi in the middle of the year, and the ramp-up of Megapack commercial energy storage 澳洲幸运5官方开奖结果体彩网:battery production at its Shanghai assembly plant. 

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  1. National Highway Traffic Safety Administration. “."

  2. BofA Securities. "Tesla Motors. Actual Smart Stock Summons Downgrade to Neutral on Valuation and Execution Risk."

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