UBS has slashed its price target on Tesla to $225 from $290 while maintaining their “Sell” rating following weaker-than-expected signs on Q1 deliveries.
The bank now sees Q1 2025 deliveries at 367K units from a previous 437K after Tesla’s disappointing Q4 2024 performance. UBS analysts write that current delivery rates are sluggish, though they acknowledge the possibility of a late-quarter surge if promotional efforts gain traction. They also note that revenue growth has been just 0.95% in the past 12 months and see gross margins at 10.3% from 18.1% a year ago in Q1.
Over the weekend, there were several anti-Tesla or anti-DOGE protests in large markets.