It is a busy week for EV earnings, with Lucid Group (LCID) missing estimates on Monday afternoon. Rivian (RIVN) and Fisker (FSR) post their quarterly results on Tuesday. But when it comes to EVs, there will always be one automaker that dominates the conversation: Tesla (TSLA).
Barclays senior autos analyst Dan Levy told Yahoo Finance on Monday that the EV giant's price hike last week doesn't necessarily mean the previous string of price cuts are over. "We don't think that this is the floor" Levy said. "The most recent price hike may have just been a way to signal to consumers that there is a little bit of stability for now."
Levy, who currently has an overweight rating on Tesla shares, points to Elon Musk's push for sales growth over profits backs up his premise. "There's probably going to have to be more price cuts to unlock that supply," Levy said.
Be sure to listen to Akiko Fujita's entire interview with Levy here.
KEY VIDEO MOMENTS:
0:18 Levy on why he doesn't believe this is the price floor for Tesla
0:49 Levy's view on Tesla stock and what investors should expect
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