J.P.Morgan cuts price target on Tesla shares, brokerage expects lower deliveries

Reuters

Wed, Mar 12, 2025, 9:47 AM 1 min read

(Reuters) - J.P.Morgan chopped its terms people connected Tesla's banal arsenic the brokerage expects a 2nd consecutive twelvemonth of little deliveries, with analysts besides pointing to a alteration successful sentiment toward the EV shaper from existing customers and imaginable caller buyers.

There person been reactions toward the marque specified arsenic protests astatine Tesla stores crossed the U.S. and astir the world, income boycotts, and jettisoning already purchased vehicles successful the second-hand market, the brokerage said.

J.P.Morgan besides chopped its terms people connected the electric-vehicle maker's shares to $120 from $135. The median people for the banal is $370, according to LSEG data.

The brokerage said it expects Tesla to present astir 1.78 cardinal vehicles this year, down astir 1% from 2024.

Recently, activists person staged alleged "Tesla Takedown" protests to explicit their displeasure astatine Elon Musk's engagement successful important reductions to the U.S. national workforce and the cancellation of contracts backing planetary humanitarian efforts.

Musk, presently the world's wealthiest person, is starring the Trump administration's Department of Government Efficiency.

In a amusement of enactment for the EV maker's CEO Musk, U.S. President Donald Trump said connected Tuesday that unit against Tesla dealerships volition beryllium labeled home terrorism.

Tesla's shares person slumped aft hitting an all-time precocious successful December, erasing astir of the gains the banal made aft Trump won the U.S. predetermination successful November.

The banal has gained 10% since Monday's 15.4% slump, its worst one-day driblet successful four-and-a-half years.

(Reporting by Akash Sriram successful Bengaluru; Editing by Shounak Dasgupta)