Rating Quick Look | Amazon, Netflix Target Prices Raised! Tesla Faces Another Price Cut

Morgan Stanley: Tesla's target price lowered from $320 to $310, rated as "Hold"

The bank stated that Tesla's weak performance in the first quarter is a clear sign that the electric vehicle market is entering a reshuffling phase. The bank adjusted the group's 2024 fiscal year delivery forecast to 1.749 million vehicles and revised cash consumption to $2.3 billion, expecting the numbers to bottom out in the second quarter. The bank lowered the 2024 fiscal year non-GAAP diluted earnings per share forecast from $1.51 to $1.12, and for 2025 from $2.48 to $2.04.

UBS: Tesla's target price lowered from $165 to $160

Morgan Stanley: Amazon's target price raised from $200 to $215

JP Morgan: Netflix's target price raised from $610 to $650

JP Morgan: TSMC's target price in Taiwan Stock Market raised from NT$850 to NT$900

The bank expects TSMC's first-quarter performance to be healthy and anticipates the group to guide for a 7% quarterly revenue growth in USD for the second quarter, with gross margin maintained at around 52%. The earthquake on April 3 caused some one-time cost impacts, and the group may raise capital expenditure guidance to reflect accelerated investments in high-end packaging and the construction of 2-nanometer process capacity at the Kaohsiung plant.

The bank expects TSMC's revenue to grow by close to 25% this year, but estimates that the group will not update its revenue guidance at this month's earnings conference. With growing AI demand, strong demand for the 3-nanometer process, and positive early response to the 2-nanometer process, the bank estimates that the group will release positive news.

Baird: Reddit's target price set at $50

"We believe Reddit is a unique online platform that provides meaningful value for advertisers with its growing user base, user-generated content, and overall safe environment."