Tesla Faces Multiple Price Target Cuts Amid Market Concerns

Published 18 days agoTSLA

Tesla Faces Multiple Price Target Cuts Amid Market Concerns

Dan Ives from Wedbush Securities has sharply reduced Tesla's 12-month price target from $550 to $315, marking a significant 43% drop. Ives cites Elon Musk's political involvements and the potential negative impacts of tariffs with China, which could result in Tesla losing around 10% of its prospective customer base as key reasons for this adjustment.

In a separate development, Stifel analysts have also trimmed their price target for Tesla from $474 to $455 while maintaining a Buy rating, pointing to expected lower delivery numbers and challenges tied to controversies surrounding Musk. Despite these anticipated short-term hurdles, analysts at Stifel continue to hold a favorable view of Tesla's long-term growth potential. Meanwhile, Wells Fargo's analyst Colin Langan reduced Tesla's target from $135 to $130, noting fierce electric vehicle competition in China and declining U.S. car sales as factors contributing to this revision.

CFRA's Garrett Nelson also adjusted Tesla's price target to $360, retaining a Buy rating, according to Insider Monkey. Although Tesla's first-quarter delivery figures were disappointing, Nelson remains positive about a potential sequential recovery in auto volumes, attributing confidence to Tesla's robust financial health and low tariff exposure.

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