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Tesla’s Q1 Sales May Be Its Worst In Years As Analysts Warn Stock Could Sink 50%
JP Morgan even lowered its price target for Tesla shares to just $120 by the end of Q1
JP Morgan suggests that Elon Musk’s ongoing ties to the Trump administration could continue dragging Tesla down, possibly hammering both its share price and its sales figures through the first quarter. In the same investor note, JP Morgan slashed its price target for Tesla shares to a mere $120, representing more than a 50% drop from the $249 mark it was trading at last week. Musk’s work with the Department of Government Efficiency has proven controversial domestically, and while as many members of the political right may be pleased as those on the left are displeased, the effect on Tesla sales seems nevertheless negative,” the analysts said.
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