J.P. Morgan has reduced its price target on Tesla’s shares to $120, citing lower-than-expected deliveries and a shift in customer sentiment. The brokerage expects Tesla to deliver 1.78 million vehicles this year, down about 1% from 2024.
The company’s recent struggles have led to protests at Tesla stores globally, sales boycotts, and the abandonment of previously purchased vehicles. Despite this, CEO Elon Musk remains influential, with President Donald Trump labeling any violence against Tesla dealerships as domestic terrorism.
Tesla’s shares have fluctuated recently, falling after hitting an all-time high in December but rebounding 10% since a significant drop on Monday. The stock has faced challenges amid concerns over deliveries and the company’s response to customer dissatisfaction.
Source: https://www.reuters.com/business/autos-transportation/jpmorgan-cuts-price-target-tesla-shares-brokerage-expects-lower-deliveries-2025-03-12