Tesla Sell-Off Intensifies: Analysts Cut Price Targets After Delivery Misses Expectations

2026-04-06 20:33:48

Investing.com - Tesla (NASDAQ:TSLA) fell 2.5% on Monday, extending last Friday’s 5.4% drop. Weak delivery data in the first quarter has weighed on the stock price.

In the first quarter, this electric vehicle maker delivered 358,023 vehicles, below analysts’ expectations of 372,160. This shortfall has intensified market concerns about the company’s near-term performance.

Energy storage deployments were also disappointing: total of 8.8 GWh, down 15% year over year. This is the first such decline since the second quarter of 2022. The figure is 39% lower than the 14.4 GWh market consensus compiled by the company.

JPMorgan analyst Ryan Brinkman remains bearish on Tesla for the long term. He reiterated a Sell rating and a $145 price target for the stock. The analyst cut his first-quarter earnings per share forecast from $0.43 to $0.30, below the $0.38 market consensus. He lowered his 2026 forecast from $2.00 to $1.80, while the market consensus is $1.95; his 2027 forecast was reduced from $2.45 to $2.25, versus $2.65 in market consensus.

Brinkman said: “We continue to believe there is a massive 60% downside to our $145 December 2026 target price, and we recommend that investors exercise extreme caution with TSLA stock.”

The analyst noted that first-quarter deliveries were 7% lower than his forecast of 385,000 vehicles and 74% below the 1,366,000-vehicle market consensus peak on June 9, 2022.

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