JPMorgan lowers price target on Tesla due to weak demand and forecasts decline in deliveries.

2025-07-01 16:20:00

JPMorgan reiterates Underweight rating and $115 price target on Tesla, citing weak demand and forecasting a 19% year-over-year decline in Q2 deliveries to 360,000 vehicles, 8% below consensus.

Analysis of May sales trends and third-party estimates lead to new forecast, 6.5% below Tesla’s compiled consensus. Revised estimate reflects concerns about demand softness impacting stock performance.

JPMorgan’s updated view includes reliable data from key markets like Europe and insurance registration data for China. The firm’s cautious stance on Tesla is reinforced by worries about persistent demand softness affecting volumes and financial results.