Mizuho Securities’ top analyst, Vijay Rakesh, lowered the price target on Tesla stock (TSLA) from $390 to $375, which still implies nearly 28% upside potential from current levels. Rakesh attributed the reduction to “continued headwinds from slowing sales.” Despite the headwinds, Rakesh maintained his “Buy” rating on TSLA due to long-term tailwinds. He is highly optimistic about Tesla’s robotaxi rollout in Texas and believes that Tesla continues to be the electric vehicle (EV) leader in the U.S.
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Rakesh is a five-star analyst on TipRanks, ranking #209 out of 9,703 analysts covered. He boasts a 58% success rate and an average return per rating of 17.60%.
Tesla Sales Remain Under Pressure
The analyst pointed to Tesla’s declining global sales in Q2, attributing the drop to ongoing “brand headwinds.” Musk’s frequent involvement in politics has disgruntled several shareholders and consumers, who want the CEO to focus solely on manufacturing EVs.
Rakesh also lowered Tesla’s fiscal 2025 revenue estimate to $91 billion, down from his prior forecast of $91.7 billion and below the consensus estimate of $95.9 billion. For fiscal 2026, revenue is projected to reach $118 billion, down from $119 billion. Additionally, Tesla’s auto delivery estimates were reduced to 1.60 million units in 2025 and 1.96 million units in 2026.
Meanwhile, the analyst raised the 2025 global battery electric vehicle (BEV) production growth forecast to 15% (up from 6%) due to improving demand trends in Europe and China. These gains are expected to offset the modest demand momentum in the U.S., where the $7,500 EV tax credit incentives are set to expire on September 30, 2025.
Is TSLA a Good Stock to Buy?
On TipRanks, TSLA stock has a Hold consensus rating based on 13 Buys, 13 Holds, and nine Sell ratings. Also, the average Tesla price target of $294 implies that shares are almost fully valued at current levels. Year-to-date, TSLA stock has lost 27.2%.
