Piper Sandler lowered the firm’s price target on Tesla (TSLA) to $400 from $450 and keeps an Overweight rating on the shares. The company’s Q1 financials “will likely underwhelm,” the analyst tells investors in a research note. The firm says Tesla’s Q1 deliveries of 337,000 units missed consensus, and as a result, its gross margin is “probably trending near multi-year lows.” In addition, it is hard to rely on new products for delivery growth, because Tesla hasn’t disclosed specifications or pricing for Model 2, adds Piper. The firm cut estimates to reflect this outlook. However, while Tesla’s few month outlook “leans bearish,” the company can rally sharply whenever “big picture” catalysts emerge, Piper contends.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TSLA:
- Potential Auto Tariff Delay a Win for Tesla (TSLA) and Detroit’s Big Three, Says Wedbush Analyst
- Lucid (LCID) to Expand EV Offerings with Midsize Electric SUV Launch in 2026
- Tesla’s (TSLA) Self-Driving Dreams Stall as Cybercab Parts Get Stuck in US-China Crossfire
- Tesla (TSLA) Stock Forms Ominous ‘Death Cross’
- Trump Trade: Carmakers may see tariff relief, China halts Boeing deliveries