JPMorgan lowered the firm’s price target on Tesla (TSLA) to $145 from $150 and keeps an Underweight rating on the shares. The firm trimmed Tesla’s estimates post the Q4 report. The company’s earnings and revenue “deteriorated” year-over-year and fell significantly short of prior expectations when the shares were much lower than they are now, the analyst tells investors in a research note. JPMorgan points out that Tesla expects no free cash flow in 2026 and 2027 after more than doubling its capital expenditure outlook.
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