** Tesla TSLA.O CEO Elon Musk said on Tuesday he would significantly cut back the time he devotes to the Trump administration from next month and spend more time running his many companies, after it reported a 20% drop in auto revenue and 71% fall in net profit in Q1
** Shares of the EV maker up 6.36% at $253.11 in premarket trading
THERE IS ENOUGH TO KEEP THE DREAM ALIVE
** TD Cowen ("buy", PT: $330) says the near-term picture has become more challenging (brand, tariffs, macro), but the upcoming catalyst path from new EVs and AV/Robotics appears intact
** RBC Capital Markets ("outperform", PT: $307) says "Tesla is better positioned on tariffs for its cars versus auto peers but on energy storage, this will be a headwind"
** Barclays ("equal-weight", PT: $275) says "we believe the narrative likely remains intact – most notably with Tesla reiterating plans for pilot launch of Robotaxi in Austin by June"
** Morningstar (fair value: $250) says TSLA's current auto lineup is near market saturation and it needs to launch more affordable vehicle for deliveries to grow** "This should allow it to see improved deliveries throughout 2025 and growth in 2026"
(Reporting by Joel Jose in Bengaluru)
((joeljose@thomsonreuters.com))
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