Wedbush removes Tesla (TSLA) from 'Best Ideas List'

Equity researcher Wedbush revealed Friday that their analysts have decided to remove electric vehicle maker, Tesla (NASDAQ: TSLA) from their “Best Ideas List”.

“We are removing TSLA from the Wedbush Best Ideas List (BIL) due to our investment price discipline.” Wedbush analysts wrote in a note.

Despite being removed from the list, Wedbush remains bullish on Tesla with an Outperform rating and $315.00 price target.

The electric vehicle company has traded down this week after management revealed the automaker would likely fall short of its vehicle production targets for the year.

Additionally, on Friday, it was revealed that Tesla is recalling nearly 200,000 EVs due to a malfunction with the vehicle’s backup camera. This recall follows a recall of more than 2M vehicles in December due to flaws in the autopilot system. That followed a years-long investigation by NHTSA into a series of crashes, some deadly, related to the Autopilot technology.

Shares of TSLA are up 1.58% in pre-market trading Friday morning.

By Michael Elkins | [email protected]

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