Tesla Q1 delivery miss sets up ‘challenging path,’ says Barclays

Barclays analyst Dan Levy says Tesla (TSLA) reported Q1 deliveries of 336,000 units, below the consensus estimate of 363,000. The inventory builds 27,000 missed Barclay’s estimate of a 20,000 drawdown, the analyst tells investors in a research note. The firm believes the “weak” Q1 sets up a “challenging path” for even flat year-over-year volume in 2025 for Tesla. A steep ramp is required, with likely reliance on a “still unknown” Model 2.5, Barclays adds. It has an Equal Weight rating on the shares with a $325 price target