Wall Street investors' frustration with Tesla intensifies, may hit longest losing streak in 15 years this week

According to CNBC, a growing number of Wall Street investors are disappointed in Tesla. Ahead of Tesla's April delivery report and first-quarter results, UBS and Redburn Atlantic reiterated their sell ratings on Tesla due to subdued Model Y delivery forecasts and a lack of near-term growth catalysts. UBS cut its price target on Tesla by $24 to $225, while Redburn was more pessimistic, with a $160 price target.Redburn analyst Adrian Yanoshik wrote, ‘We expect sales to stagnate this year without the upcoming new car.’ ‘So far, sluggish new-vehicle registration numbers could signal ongoing demand challenges. At the same time, we expect cash flow to be impacted by deliveries of the new Model Y model, which began in March, due to increased inventories. Possible U.S. tariffs on imports from Mexico add to the cost burden.’ At one point on Monday, Tesla shares tumbled more than 13 per cent, and have accumulated losses of more than 40 per cent so far this year. If the trend fails to reverse, the stock could fall for an eighth consecutive week after the U.S. election-induced surge, the company's longest (weekly) losing streak in 15 years.