BUZZ-Tesla falls as brokerage cuts delivery forecast and PT

Reuters
03/31
BUZZ-Tesla falls as brokerage cuts delivery forecast and PT

** Shares of electric vehicle maker Tesla TSLA.O fall 5.3% to $249.6 premarket

** Stifel on Sunday cut PT to $455 from $474, lowered full-year 2025 delivery forecasts to 4% versus 17% previously to reflect the roll out of the new Model Y (Juniper) as well as headwinds from sentiment against CEO Elon Musk

** Reduced PT represents an upside of ~73% to last close price of $263.55

** Tesla is set to report Q1 deliveries on Wednesday; analysts expect Tesla to have delivered about 373,000 vehicles in Q1, according to an average of 15 analysts' estimates from Visible Alpha refreshed in the past 30 days

** Brokerage says protests against Elon Musk, damage to Tesla sites, vandalism of customer-owned cars and Superchargers, is a headwind to sales

** Stifel believes that the expected rollout of the more affordable model in 2025 could be a short-term headwind but will help drive growth in sales in the second half

** Up to last close, stock had fallen 34.7% YTD

(Reporting by Kritika Lamba in Bengaluru)

((Kritika.Lamba@thomsonreuters.com))

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