Stifel: 'TSLA and RIVN Release 4Q25 Deliveries; No Big Surprises'

Stifel: 'TSLA and RIVN Release 4Q25 Deliveries; No Big Surprises'.

The analyst comments "TSLA's 4Q25 deliveries of 418,227 vehicles exceeded our 415,500 forecast, and were 1% south of the 422,850 Tesla-compiled consensus the company provided last week. As expected, vehicle sales dropped sequentially in 4Q25 following the expiration of the $7,500 U.S. EV tax credit on September 30, 2025 and the demand pull-forward that boosted 3Q25 results. On a year-over-year basis, deliveries dipped 15.6%. We believe the delivery results are about neutral for the shares and await details on margins when the company reports 4Q25 earnings (expected on 01/26/2026). TSLA also announced it deployed a record 14.2 GWh of energy storage in 4Q25. We reiterate our Buy on TSLA and our $508 target price, and we continue to believe that progress on the company's FSD and Robotaxi initiatives will be critical drivers of value over the next 12-18 months. Buy-rated Rivian released 4Q25 production and delivery numbers that are largely in line with our projections"

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