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BUZZ-Tesla dips as HSBC starts coverage in bear camp

** Shares of Tesla Inc down 1.1% at $219.66 premarket as HSBC initiates coverage of EV maker with a "reduce" rating ** Brokerage assigns $146 PT, implying 34% downside to stock's last close ** HSBC says Tesla more than just an auto firm with many concept-stage ideas, including robots, autonomous vehicles, energy storage and supercomputers ** HSBC says sees potential in Tesla’s prospects, though the timeline of delivery and commercialization of those ideas likely to be longer than the market and stock's valuation is reflecting ** Having a "charismatic and convincing CEO is undoubtedly an asset,", HSBC says, but thinks Elon Musk's prominence presents a "considerable 'singleman' risk" ** Now, 18 of 47 analysts rate TSLA "buy" or "strong buy", 21 rate "hold", while 8 have "sell" or "strong sell" recommendations, per LSEG data ** Median PT of $250 down from $265 a month ago ** In co news, Tesla to recall 159 Model S and Model X vehicles due to potential driver air bag depl
BUZZ-Tesla dips as HSBC starts coverage in bear camp

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