Roth Capital lowered the firm’s price target on Tesla (TSLA) to $395 from $450 and keeps a Buy rating on the shares after the company reported “weak” Q1 results and removed its 2025 deliveries guidance for “positive automotive deliveries growth in 2025 with higher regulatory credit revenue.” The lower target reflects a lower 2025 revenue forecast, but the firm sees investors discounting the longer-term served opportunity and projected earnings power and it sees “abundant positive catalysts, so we would be buyers on any weakness.”
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