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
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