TESLA
Wall Street is reacting coolly to Tesla’s Q1 delivery numbers, with several analysts slashing their price targets on $TSLA 😱
Ben Kallo of Baird lowered his target to $538 (down from $548), pointing out that while investors are looking past basic delivery stats, the slump in energy deployments caught the market off guard. Tesla’s battery storage output fell to 8.8 gigawatt-hours this quarter, a significant dip from the 14.2 gigawatt-hours seen in the previous quarter.
Other analysts echoed this caution.
Goldman Sachs’ Mark Delaney lowered his target to $375, citing the end of the $7,500 federal tax credit as a major drag on sales.
At Truist, William Stein dropped his target to $400, largely because the update stayed silent on the "big picture" AI stuff investors were hoping for, like robots and robotaxis.
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