Tesla's price target lowered at Cowen because of the prospect of softer deliveries

Cowen analysts lowered their price target on Tesla Inc. on Friday.

TSLA, -2.88%

$ 180 against $ 200 on "softer deliveries" in the first quarter, the company's recent price changes and pressure on margins, they said. "It is too early to call the sustainable demand rate for Model 3 in Europe and China, we expect demand in the US will be moderate until the release of the low margin model ($ 35,000) in the second quarter, "analysts Cowen analysts. Jeffrey Osborne. "Management would probably attribute the lack of likely delivery to vehicles in transit to Europe and China, but we think that weak demand in the United States is also a factor," they said about first quarter deliveries. Tesla shares fell 1.6% on Friday and fell 20% in the last 12 months, in contrast to gains of around 6% for the S & P 500.

SPX, -1.31%

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