Tesla’s $TSLA shares are currently at $160, marking their lowest point in almost 10 months, with the stock down 35% year-to-date.
Since the beginning of this year, the stock has experienced downward pressure attributed to a slowdown in China’s $TSLA EV market, price reductions, and numerous analyst downgrades.
Wells Fargo has downgraded Tesla to ‘Underweight’ and reduced the price target to $125, down from $200. Wells Fargo analyst Colin Langan said Tesla is a “growth company with no growth.
UBS has revised Tesla’s price target downward to $165 from $225 while maintaining its ‘Neutral’ rating. UBS has decreased its Q1 delivery forecast for Tesla to 432,000 from 466,000, indicating that its outlook is now approximately 10% lower than the consensus forecast of 477,000 units.
Wedbush maintained its positive outlook on Tesla by reaffirming its Outperform rating and adjusting the price target to $315. Despite a decrease from $350, the firm remains optimistic about Tesla’s long-term potential. Wedbush attributes the lowered target to challenges such as price cuts and a lack of guidance from Tesla’s management, likening these issues to a “Category 4 hurricane.”
As of now, Tesla ranks as the poorest performer in the S&P 500 and among the MAG7 for the year, having shed nearly $280 billion from its market capitalization in 2024 and $520 billion from its peak value.
