Tesla (TSLA) PT Lowered to $375 at Mizuho

Mizuho analyst Vijay Rakesh lowered the price target on Tesla (NASDAQ: TSLA) to $375.00 (from $430.00) while maintaining a Outperform rating.

The analyst comments: "We are lowering our 1Q25E rev/EPS estimates from $22.30B/$0.57 to $20.53B/$0.51 (Cons. $21.92B/$0.44), F25E from $108.03B/$2.89 to $101.03B/$2.60 (Cons. $108.34B/$2.67) with deliveries from 1.82M units to 1.66M units (Cons. 1.84M). F26E from $134.25B/$3.87 to $124.33B/$3.60 (Cons. $130.88B/$3.68) with deliveries from 2.30M units to 2.00M units (Cons. 2.18M), and F27E from $159.98B/$4.99 to $149.81B/$4.70 (Cons. $156.09B/$4.83) with deliveries from 2.73M units to 2.43M (Cons. 2.50M). We reiterate our Outperform on TSLA but lower our PT to $375 (prior: $430), given shares are currently down ~52% vs. their 52-week high, implying a ~10.6x F26E P/S as we see TSLA remaining the leader in the US EV market, though we note potential share headwinds in the EU/China as competitors ramp production."

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