Bernstein sees trouble for Tesla. Bank of America upgraded a mobile tech stock.
Here are Wednesday's biggest calls on Wall Street: Bernstein reiterates Tesla as underperform Bernstein said after the automaker's shareholder meeting that it sees trouble ahead. "Elon Musk reiterated several times that the next 12 months will be difficult for Tesla, and attributed his caution to macro issues, which is inconsistent with the relative constructive outlook for the broader auto industry.
Mizuho downgrades WeWork to neutral from buy The firm said its prior buy rating was "wrong" on shares of WeWork and that "macro headwinds have been exacerbated." "We now see our base case business assumptions, specifically occupancy targets, as unachievable, leading to higher cash burn and eventually driving the need for outside capital. We do not see FCF positive till YE25.
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