Two banks looked at the same Q1 delivery numbers for Tesla Inc. (NASDAQ:TSLA), but their price targets are $207 per share apart.
Someone is very wrong.
UBS upgraded Tesla to Neutral from Sell, raising its target to $352, a small decrease on the current price.
Analyst Joseph Spak said the risk-reward has improved but conceded the stock trades more on sentiment and narrative than fundamentals.
He flagged soft EV demand, higher costs, and slow progress on robotaxi and Optimus as near-term drags. TSLA rose 2% in premarket on the upgrade.
JPMorgan went the other direction. Analyst Ryan Brinkman reiterated his Underweight rating and $145 target, pointing to Q1 deliveries of 358,023 that missed consensus by roughly 4%.
Tesla built over 50,000 more cars than it sold during the quarter.
Brinkman called the inventory pileup a free cash flow problem …
This post was originally published here
