JPMorgan reduced estimates for Tesla (TSLA) following the Q1 deliveries report. The deliveries missed expectations while Tesla’s energy storage installations of 8.8 GWh also surprised by falling 15% year-over-year, the analyst tells investors in a research note. JPMorgan keeps an Underweight rating on the shares with a $145 price target The firm continues to see 60% downside to its December 2026 price target and advises investors approach Tesla shares “with a high degree of caution.” The stock prices in “materially stronger distant out-year earnings expectations,” contends JPMorgan.
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