Tesla

Wells Fargo analyst Colin Langan maintains Tesla (NASDAQ:TSLA) with a Underweight and maintains $125 price target.

Tesla’s first-quarter delivery report is coming. It better show year-over-year growth or investors will get grumpier than they already are. Looking at the current consensus calls from Wall Street, growth shouldn’t be a problem. However, there’s a rub. That consensus may be too optimistic. Heading into Tuesday’s report, Wall Street expects about 457,000 units, according to FactSet, up from 423,000 units delivered in the first quarter of 2023. That’s growth of about 8%, not nearly as brisk as the growth of past quarters, but growth nonetheless. The FactSet number is too high. That’s the problem. Not all analysts update numbers at the same rate. The company-compiled consensus number is about 443,000 units. That figure is an average of more than two dozen analysts from large brokerage firms that Tesla distributes each quarter. The Tesla-provided number implies slower growth, but it might be too high too. The most current handful of

Regarding Tesla, Deutsche Bank Forecasts Deliveries Of 414,000 In Q1 Vs Prior Forecast Of 427,000.

Tesla’s (TSLA) Q1 has been a “nightmare quarter” as deliveries have suffered greatly due to persistently soft demand in China at the start of the year, Wedbush said in a report emailed Thursday. Supply challenges, including factory downtimes and the fire at its Berlin factory have hampered the company, the analysts said. “There is no denying this has been a quarter to forget for Musk and Tesla,” Wedbush said, adding that “further issues this quarter were compounded by the Model 3 Highland upgrade issues in the US /Fremont and flattish sales in Europe.” China’s challenging market, compounded by rising electric vehicle competition, remains a major concern for the company, with delivery estimates down 3% to 4% year-over-year this quarter. The current negative narrative surrounding Tesla is warranted, given sluggish growth and squeezed margins, especially in China. Wedbush said. “For Musk this is a fork in the road time to get

RBC Capital Markets analyst Tom Narayan maintained an Outperform rating on Tesla Inc (NASDAQ:TSLA) with a price target of $298. The fourth quarter of fiscal 2023 saw a demand-pull forward from the IRA expiry of particular Model 3s, and that likely negatively impacted the first quarter of 2024, as per the analyst. The analyst flagged the Red Sea disruption in January and the arson attack in February, hampering the Berlin gigafactory operations. Narayan expects the company’s decision to give one month of free trials of FSD in the U.S. will help drive higher volumes in the second quarter. Higher FSD attach rates are also central to his investment thesis on the stock. Narayan projects Tesla deliveries of 446,000 in the first quarter of 2024, down 10.7% vs. his prior estimate of 500k and 3.3% below consensus, based on registration data and app downloads. He expects Tesla to report deliveries during the first week of April.

By Ryan Felton and Rebecca Elliott Tesla is stepping up promotion of its driver-assistance technology, called “Full-Self Driving Capability,” seeking to expand use of the revenue-generating software feature as it confronts the prospect of lower growth in vehicle deliveries this year. Elon Musk, Tesla’s chief executive, told employees this week in an internal email that customers must receive a test drive using the technology before they receive a car. The system is an advanced version of the company’s Autopilot technology, which is available on all new Teslas and is designed to help with driving tasks like steering and lane changes. Full Self-Driving, an upgrade available for $12,000 up front or $199 a month as a subscription service, includes features that can navigate cars through city streets. “I know this will slow down the delivery process, but it is nonetheless a hard requirement,” Musk said in the employee email, which was

Mizuho analyst Vijay Rakesh downgrades Tesla (NASDAQ:TSLA) from Buy to Neutral and lowers the price target from $270 to $195.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our 12-month target by $40 to $235, based on a 2025 P/E of 55x, a justified premium to peers. We lower our adjusted EPS estimates to $3.00 from $3.90 for 2024 and to $4.25 from $5.50 for 2025 to reflect reduced sales volume and margin assumptions. TSLA shares have underperformed so far in 2024, a pullback we believe was overdue after the stock more than doubled in 2023, but we now see a slower production ramp-up for the Cybertruck and moderating sales growth for the Model Y and Model 3 relative to last year’s 39% Y/Y increase. Given the high fixed cost nature of auto manufacturing, lower volumes should also weigh on margins, although declining battery costs are a silver lining. The good news is

Goldman Sachs analyst Mark Delaney maintains Tesla (NASDAQ:TSLA) with a Neutral and lowers the price target from $220 to $190.

Wedbush analyst Daniel Ives reiterates Tesla (NASDAQ:TSLA) with a Outperform and maintains $315 price target.

Tesla (TSLA) is likely to see growth and margin improvement in the coming quarters despite the near-term headwinds it is facing, including the slowdown in global demand for electric vehicles, Wedbush said in a note Wednesday. Analysts said the negative sentiment around the company and Chief Executive Elon Musk is way overdone. “The stock is way overshooting on the negative front as the demand story for Tesla is more in stabilization mode heading to the rest of 2024, price cuts are moderating, battery costs/production is showing strong cost efficiencies, and a Model 2 is on the roadmap for the next year,” Wedbush said. The demand will remain sluggish during Q1 while the Berlin arson shutdown and the Delaware court’s ruling on Musk’s compensation package add to the near-term issues, according to the note. Wedbush said that the risk-reward for Tesla is very attractive with AI and full self-driving progress, potentially

Tesla (TSLA) is facing near-term headwinds, but the negative sentiment is “way overdone,” Wedbush said in a note Wednesday. Wedbush said there is a fierce price competition in China’s auto market. However, these aggressive price reductions are expected to taper off into spring/summer 2024. This is a positive news for Tesla and the overall electric vehicle industry. Although Tesla is still tracking to exceed 2 million units in 2024, the 2.1 million to 2.2 million units range is still achievable, despite softer Q1 performance, the investment firm said. Wedbush maintained Tesla’s outperform with a price target of $315.