JPMorgan Maintains Underweight Rating on Tesla Ahead of Q1 Results
JPMorgan maintains an Underweight rating on Tesla, citing underwhelming delivery numbers and reduced earnings expectations ahead of the company's Q1 report.
JPMorgan has reaffirmed its bearish outlook on Tesla (TSLA) as the electric vehicle manufacturer prepares to report its first-quarter earnings. The firm continues to maintain an Underweight rating on the stock, citing ongoing concerns regarding the company's financial trajectory.
Analysts at JPMorgan pointed to a combination of disappointing vehicle delivery figures and downward revisions to earnings-per-share (EPS) estimates as the primary drivers behind their cautious stance. Looking further ahead, the investment bank holds a price target of $145 for Tesla shares, projecting that level to be reached by 2026. This outlook underscores the firm's skepticism regarding Tesla's near-term growth catalysts and performance metrics in an increasingly competitive automotive market.