JPMorgan Revises Down Tesla's Q2 Delivery Forecast

Deep News06-25

According to Bloomberg, JPMorgan analyst Rajat Gupta has lowered his forecast for Tesla Motors's second-quarter vehicle deliveries from 430,500 units to 420,000 units, citing mixed recent signals regarding electric vehicle demand.

Influenced by the reduced delivery outlook, Gupta has also adjusted his second-quarter earnings per share (EPS) estimate for Tesla Motors downward from $0.44 to $0.42, and revised the full-year 2026 EPS forecast from $1.95 to $1.90.

Regarding electric vehicle demand, JPMorgan noted that the European market remains a bright spot, while demand in the U.S. market is showing relative weakness year-over-year as purchase incentives are gradually phased out. Gupta stated:

"In the U.S. market, there is little evidence that rising gasoline prices have provided a substantial boost to electric vehicle demand."

JPMorgan maintains a "Neutral" rating on Tesla Motors with a price target of $475.

During Wednesday's trading session, shares of Tesla Motors declined by 1.82%.

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