JPMorgan Lowers Tesla's Q2 Vehicle Delivery Forecast

06/24 18:55

On June 25, JPMorgan analyst Rajat Gupta revised Tesla's Q2 vehicle delivery estimate from 430,500 to 420,000 units, citing mixed signals regarding recent electric vehicle demand. Due to the lowered delivery expectations, Gupta also reduced the Q2 earnings forecast from $0.44 to $0.42 per share and the 2026 earnings per share estimate from $1.95 to $1.90. Gupta stated, 'In the U.S., there is little evidence that rising gasoline prices have a substantial impact on electric vehicle demand.' JPMorgan maintains a neutral rating on Tesla with a target price of $475.
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