Tesla (TSLA – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Gordon Johnson from GLJ Research maintained a Sell rating on the stock and has a $24.86 price target.
Gordon Johnson’s rating is based on his analysis of Tesla’s delivery estimates, which he believes are overestimated by the consensus. He anticipates that Tesla will report lower deliveries for the first quarter of 2025, projecting 352.7K units compared to the consensus estimate of 390.3K, indicating a potential shortfall of 9.6%.
Furthermore, Johnson forecasts that Tesla’s delivery numbers for the entire year of 2025 will also fall short of expectations, with his estimate at 1.628 million units against the consensus of 1.872 million. This projected underperformance suggests a second consecutive year of negative year-over-year growth for Tesla, a company that is currently valued as a high-growth entity. The disparity between Tesla’s valuation and its expected delivery performance underpins Johnson’s Sell rating.
According to TipRanks, Johnson is an analyst with an average return of -5.5% and a 56.30% success rate. Johnson covers the Technology sector, focusing on stocks such as Canadian Solar, Enphase Energy, and JinkoSolar.
In another report released on March 27, HSBC also maintained a Sell rating on the stock with a $130.00 price target.