Tesla Delays Next-Generation Roadster Reveal to Oct. 15
The postponement came as JPMorgan cut its Tesla price target to $415 from $445 and kept a neutral rating.
Tesla delayed the reveal of its next-generation Roadster by two weeks, adding pressure to shares already weakened by a JPMorgan price-target cut.
The event was moved from Oct. 1 to Oct. 15 because severe weather is forecast for the original date, Tesla said. The outdoor presentation remains scheduled for SpaceX’s test facility in McGregor, Texas.
Tesla shares closed at $357.45, down 3.94% in the latest regular trading session. JPMorgan lowered its price target for the stock to $415 from $445 while maintaining a neutral rating.
The Roadster was first unveiled in 2017 and has faced repeated changes to its expected production and delivery timeline. The rescheduled reveal is now the next concrete milestone for Tesla’s long-delayed electric sports car.
