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April 23 - Tesla (NASDAQ:TSLA) drew a split response from Wall Street after posting weaker-than-expected first-quarter earnings, though analysts broadly maintained a positive long-term view of the electric vehicle maker's growth prospects.
Several analysts trimmed their price targets, citing ongoing headwinds like supply chain issues and Model Y factory upgrades, but retained bullish ratings.
Mizuho's Vijay Rakesh lowered his target to $325 from $375, noting better-than-expected auto gross margins excluding zero-emission vehicle credits, despite a 10% drop in average selling prices. He projected an 8% dip in 2025 deliveries due to factory downtime, but sees production rebounding later this year.
RBC Capital's Tom Narayan reduced his target to $307 from $314, citing trimmed growth guidance amid macroeconomic pressures. He remained optimistic on Tesla's upcoming low-cost EV model and the robotaxi rollout in Austin.
Robert W. Baird's Ben Kallo echoed the long-term optimism, though he cut his price target to $320 from $370, highlighting near-term operational challenges.
Tesla remains the U.S. EV leader, analysts said, with new product launches expected to strengthen its position in the coming quarters.
This article first appeared on GuruFocus.