Analysts Cut Tesla Price Targets Amid Delivery Concerns

Tesla's stock faces significant challenges, prompting major analysts to revise their price targets downward. Deutsche Bank has cut its target from $420 to $345, forecasting a decline in first-quarter deliveries to between 340,000 and 350,000 vehicles, representing an 11% year-over-year drop. HSBC has taken an even more pessimistic stance, reducing its target to $130, highlighting issues with aging products and competition in Europe and China. Analysts pointed to weak demand trends, particularly for the Model Y, and delays in launching the Model Q as contributing factors to the declining outlook. Daiwa Capital Markets also lowered its target to $300, citing concerns over profit margins and slowing demand growth due to intensifying competition. Despite these downgrades, some analysts maintain buy ratings, indicating a complex market sentiment around Tesla's future prospects.