Latest news with #MickeyLegg
Yahoo
14-04-2025
- Automotive
- Yahoo
Tesla's Tumble Nears Its End, Benchmark Analyst Foresees Rebound Ahead
April 14 - Tesla (NASDAQ:TSLA) has lost nearly half its value since peaking in December, but Benchmark analyst Mickey Legg believes the downturn may be short-lived. Shares have dropped 47% amid a mix of political and operational setbacks. Legg attributes the slump to political blowback from CEO Elon Musk's growing involvement in U.S. politics, along with broader headwinds, including soft first-quarter sales, regulatory uncertainty, and rising competition in the electric vehicle space. He also pointed to an aging product lineup and delays in new model releases as weighing on investor sentiment. However, Legg emphasized that many of these challenges appear temporary. As the year progresses, we believe political overhang could ease, and Tesla's longer-term opportunity remains intact, he said. He added that speculation over Musk's diminishing influence in the new U.S. administration may help ease brand tensions and bring back sidelined investors. On Monday, Tesla stock was up 1.5% in pre-market trading. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
09-04-2025
- Automotive
- Yahoo
Why Tesla Stock Is Soaring Today Even as Tariff Trouble Mounts
Shares of Tesla (NASDAQ: TSLA) are rebounding on Wednesday. The electric vehicle (EV) stock gained 5.2% as of 1:05 p.m. ET after gaining 6.4% earlier in the day. The bounce comes as the S&P 500 and Nasdaq Composite were green even as more retaliatory tariffs on the U.S. were announced. A Wall Street firm added Tesla to its "best ideas" list despite recent troubles, claiming the stock sell-off is overdone. Benchmark analyst Mickey Legg released a bullish research note on Wednesday, adding Tesla to the firm's "best ideas" list. The analyst acknowledged the stock's recent struggles amid declining sales but said he believes concerns "are overblown considering the near-term issues impacting the company and the scope of opportunities around the corner." Legg did lower his price target to $350 from $475, but that still represents a large upside from the stock's current price around $230. Benchmark maintained a buy rating on the stock. The analyst's optimism centers on Tesla's anticipated product launches that could reverse the company's recent sales decline. "Our focus is on the release of a new TSLA model in [the 2025 second quarter], which in our view could turn around the recent decline in vehicle sales," Legg wrote. He also thinks that Tesla's robotaxi service, scheduled to launch this summer in Austin, Texas, could be a significant catalyst. The company is promising the release of a personal robot named Optimus. Legg describes it as a possible game changer that transforms the company from a vehicle manufacturer into a broad automation provider. This aligns with CEO Elon Musk's recent statement that Tesla plans to build 5,000 Optimus robots this year. While these plans could indeed be a game changer, their success is far from guaranteed. Neither is the timeline of their release. Musk has a history of big promises that fail to materialize. It's been nearly a decade since the enigmatic CEO chief said that his cars would soon be fully autonomous, but he still has yet to deliver on that core promise. I would avoid Tesla stock for the time being. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $249,730!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $32,689!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $469,399!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of April 5, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. Why Tesla Stock Is Soaring Today Even as Tariff Trouble Mounts was originally published by The Motley Fool
Yahoo
09-04-2025
- Automotive
- Yahoo
Tesla Named 'Best Idea' at Benchmark, Cites Robotaxi Rollout as Major Catalyst
April 9 - Benchmark kept its upbeat stance on Tesla (NASDAQ:TSLA) and added the electric vehicle maker to its "Best Ideas" list on Wednesday, even as the stock remains sharply lower year to date. Analyst Mickey Legg acknowledged recent sales softness but called the market reaction "overdone," citing a pipeline of potential catalysts that could reverse sentiment in the coming quarters. Key among those is a new vehicle expected to debut in the second quarter. Legg also flagged Tesla's planned rollout of a limited robotaxi service in Austin, Texas this June, noting the firm is watching the speed of its expansion both locally and in other U.S. cities. Additional growth drivers include the commercialization of Tesla's full self-driving software, possible government contracts, and progress on Optimus, the company's humanoid robotics initiative. Benchmark lowered its price target on the stock to $350 from $475, but said the broader automation potential keeps Tesla attractive long-term. Shares of Tesla are down about 31% so far in 2025, underperforming major indexes amid sluggish delivery numbers and broader EV demand concerns. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
08-04-2025
- Automotive
- Yahoo
Lucid Pops After Delivery Beat and Tariffs Shift Spotlight to U.S. EV Makers
Lucid Group (NASDAQ:LCID) shares climbed more than 4% on Tuesday, to $2.49, as investors reacted to upbeat Q1 delivery numbers and optimism that new U.S. tariffs might play in favor of domestic electric vehicle makers. While the stock remains down over 20% this year, the latest move signals growing interest in the EV underdog. Warning! GuruFocus has detected 4 Warning Signs with LCID. The shift comes after the Trump administration rolled out new 25% auto import tariffs. While the announcement rattled global automakers, Lucid may be insulated. The company builds its vehicles in Arizona and sources much of its components locally, giving it a potential cost advantage over rivals like BMW and Hyundai, which depend more on overseas manufacturing. Benchmark analyst Mickey Legg maintained a Buy rating on Lucid and kept his $5 price target. He said Lucid's U.S.-based production puts it in a strong position to weather trade-related volatility in the near term. Lucid also reported 3,109 vehicle deliveries for the first quarter a 58% increase from a year ago. Production totaled 2,212 units, and the company said another 600 vehicles are currently being shipped to Saudi Arabia for final assembly. The update came in an investor note published April 2. Still, not all analysts are bullish. Bank of America Securities' John Murphy lowered his target to $1 from $3, pointing to Lucid's ongoing cash burn and a recent $1 billion convertible note offering. The company said proceeds will go toward repaying 2026 debt and general expenses. Lucid's recent performance may be encouraging, but the road ahead remains complex. The company still faces pressure to scale effectively while conserving capital. However, if the current tariff dynamics hold and the upcoming Gravity SUV launch goes smoothly, the outlook could shift further in Lucid's favor. It's important to note that Lucid's stock climbed 0.62% in the past week and 13.26% for the month, outpacing the S&P 500's declines of -8.58% and -11.09%, respectively. However, its six-month drop of -28.80% is notably steeper than the index's -9.93%, and its YTD loss of -19.37% also surpasses the broader market's -12.78% decline. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
19-03-2025
- Automotive
- Yahoo
Why Rivian Stock Gained While the Market Slumped Today
Investors might have been a collectively gloomy bunch on Tuesday, but they ended up being positive about the future of electric vehicle (EV) maker Rivian Automotive (NASDAQ: RIVN). On the back of a new and bullish analyst note, they traded the stock up by almost 2% during the day. That was in marked contrast to the general trajectory of equities, reflected in the S&P 500 index's 1.1% decrease. The analyst behind the positive note was Benchmark's Mickey Legg, who that morning reiterated his existing buy recommendation on Rivian and his $18 per-share price target. That level is a robust 61% above the stock's most recent closing price. According to reports, Legg's justification comes from what he feels is Rivian's good access to capital. After all, vehicle manufacturing is capital intensive and the company is habitually loss-making. The pundit also waxed bullish about the company's R2, the next-generation SUV platform it aims to debut in 2026. Legg addressed management's recent cut in delivery guidance when it reduced its estimate for first-quarter deliveries to 8,000 from its previous 10,000. In the analyst's view, this was expected given the seasonality of sales and limited demand. The devastating wildfires in Los Angeles should also affect the metric. Another aspect of Legg's argument is that, while quarterly deliveries are expected to be softer than previously anticipated, Rivian is maintaining its annual forecast of 46,000 to 51,000 deliveries for the entirety of 2025. Rivian as a company feels as secure an investment as any EV maker, although any investment decision has to be influenced by the shaky state of the industry in general. Personally, I'd steer away from EV stocks just now, as they're experiencing plenty of growing pains, but Rivian isn't a bad choice for investors determined to buy into the sector. Before you buy stock in Rivian Automotive, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Rivian Automotive wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $732,610!* Now, it's worth noting Stock Advisor's total average return is 840% — a market-crushing outperformance compared to 165% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of March 18, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Rivian Stock Gained While the Market Slumped Today was originally published by The Motley Fool
