Tesla Q1 Deliveries Preview: Analysts Cut Targets, 'Nightmare Quarter For Tesla'
Portfolio Pulse from Chris Katje
Tesla Inc (NASDAQ:TSLA) is anticipated to report a decline in Q1 deliveries compared to Q4, with analysts cutting their delivery estimates due to concerns over electric vehicle demand, China, and macroeconomic factors. Wedbush analyst Daniel Ives reduced his price target for Tesla from $315 to $300 and lowered his delivery estimates, describing Q1 as a 'nightmare quarter' for Tesla. Other analysts have also revised their estimates downward, and Tesla's year-to-date shares have fallen by 29%. A weak Q1 delivery report could further depress Tesla's stock price.
March 29, 2024 | 2:44 pm
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Tesla Inc is facing a challenging Q1 with lowered delivery estimates and a significant stock price decline. Analysts have revised their targets downward, indicating potential further short-term pressure on the stock.
The article highlights a consensus among analysts that Tesla's Q1 deliveries will fall short of previous quarters, with specific mention of reduced demand in China and broader economic concerns. This negative sentiment, coupled with a significant year-to-date stock price decline, suggests a bearish outlook for Tesla in the short term. The reduction in price targets by analysts like Daniel Ives from Wedbush further underscores the anticipated negative impact on Tesla's stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100