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You are at:Home » Tesla’s stock price falls as regulators investigate crash, Bank of America downgrades stock price
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Tesla’s stock price falls as regulators investigate crash, Bank of America downgrades stock price

Adnan MaharBy Adnan MaharJanuary 7, 2025No Comments2 Mins Read0 Views
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NHTSA has launched an investigation into Tesla’s Smart Summon and Actuarial Smart Summon features, which allow users to remotely move vehicles using an app. Regulators have received complaints that Tesla cars were unable to detect obstacles or parked vehicles, causing crashes. Analysts at Of America Securities lowered their rating on Tesla from “buy” to “neutral,” but raised their price target on the stock.

Tesla (TSLA) on Tuesday, as federal regulators announced they were investigating accidents related to the company’s automated vehicle summons feature, while Bank of America analysts announced a downgrade of Tesla (TSLA) stock. Stocks fell.

The National Highway Traffic Safety Administration (NHTSA) has launched an investigation into the Smart Summon and Actuarial Smart Summon features that allow Tesla drivers to remotely navigate their vehicles using a phone app. The agency said it has received complaints that Tesla cars were unable to detect obstacles or parked vehicles, resulting in crashes.

Specifically, NHTSA’s Office of Defect Investigations received 12 complaints related to Smart Summon and one complaint related to Actuarial Smart Summon, an upgraded version of the feature. The bureau also investigated “at least” three media reports about other Actuarial Smart Summon cases.

meanwhile. Bank of America Securities on Tuesday lowered Tesla’s rating to “neutral” from “buy,” but raised its price target to $490 from $400. That’s about a 25% premium after Tesla shares fell 4.1% on Tuesday to close at $394.36.

Analysts said that despite the increased price target, “execution risk is high and TSLA is trading at levels that broadly capture our base scenario.”

The bank’s analysts are eyeing multiple potential growth drivers this year, including the introduction of lower-cost Tesla models in the first half of the year, the launch of robotaxis in mid-year, and the enhancement of MegaPack’s commercial services. Energy storage batteries are produced at the Shanghai assembly plant.



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Adnan Mahar
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Adnan is a passionate doctor from Pakistan with a keen interest in exploring the world of politics, sports, and international affairs. As an avid reader and lifelong learner, he is deeply committed to sharing insights, perspectives, and thought-provoking ideas. His journey combines a love for knowledge with an analytical approach to current events, aiming to inspire meaningful conversations and broaden understanding across a wide range of topics.

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