tl;dr
Analysts continue to reset expectations on Tesla (NASDAQ:TSLA) after the Q1 deliveries miss raised questions on demand. Piper Sandler cut its price target on Tesla (TSLA) on Wednesday to $205 from $225 to reflect a challenging electric vehicle demand outlook for 2024-2025. Analyst Alexander Potter f...
Analysts continue to reset expectations on Tesla (NASDAQ:TSLA) after the Q1 deliveries miss raised questions on demand. Piper Sandler cut its price target on Tesla (TSLA) on Wednesday to $205 from $225 to reflect a challenging electric vehicle demand outlook for 2024-2025. Analyst Alexander Potter forecast that Tesla (TSLA) will see a 0.5% year-over-year decline in deliveries to 1.79m vehicles. "Growth is slowing, and there’s no quick fix," warned Potter. The firm sees a recovery in deliveries growth in 2026 through a new low-cost model and higher Cybertruck sales. Meanwhile, Jefferies lowered its price target to $165 from $185. Analyst Philippe Houchois expects Tesla's (TSLA) deliveries tally to be 3% lower this year than in 2023. Houchois thinks the robotaxi unveiling could boost sentiment in the near term, but will not address the time frame and investment needed to render the technology and business model viable. "Most issues affecting core auto performance appear self-inflicted and should keep returns well below potential for the coming 24 months," he warned. On Seeking Alpha, analyst Roberts Berzins said Tesla (TSLA) still trades with rich excessive valuation that keeps him on the sidelines. Shares of Tesla (TSLA) tracked 0.55% higher in premarket action on Wednesday to $177.87 and are up more than 10% since a report on Friday indicated that the company may not be making its mass-market vehicle as quickly as investors anticipated. The announcement by Elon Musk of a robotaxi event on August 8 helped to reverse the selling pressure, although TSLA is still down more than 25% on a year-to-date basis.
More about Tesla Inc
Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. Tesla's current products include electric cars, battery energy storage from home to grid-scale, solar panels and solar roof tiles, as well as other related products and services. In 2020, Tesla had the highest sales in the plug-in and battery electric passenger car segments, capturing 16% of the plug-in market (which includes plug-in hybrids) and 23% of the battery-electric (purely electric) market. Through its subsidiary Tesla Energy, the company develops and is a major installer of solar photovoltaic energy generation systems in the United States. Tesla Energy is also one of the largest global suppliers of battery energy storage systems, with 3 GWh of battery storage supplied in 2020.
Industry: MANUFACTURING, MOTOR VEHICLES & PASSENGER CAR BODIES
Market Cap: 563.33B
Dividend Yield: 0.41
P/E Ratio: None
EPS: 4.3
Stock Price: 30.49
52-Week High: 189.83
52-Week Low: 1.115
Shares Outstanding: 0.035
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