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Investing.com - TD Cowen maintained its Buy rating and $330.00 price target on Tesla (NASDAQ:TSLA) stock Monday ahead of the electric vehicle maker’s second-quarter delivery report expected next week. The trillion-dollar EV maker, currently trading at $325.84, shows mixed signals according to InvestingPro data, with analyst targets ranging from $115 to $500.
The research firm revised its Q2 delivery estimate downward to 362,000 vehicles from its previous forecast of 400,000. The adjustment reflects reduced delivery expectations in China and the United States, partially offset by other global markets, while Europe projections remained largely unchanged.
Despite the reduction, the new delivery estimate still represents an increase from the 337,000 vehicles Tesla delivered in the first quarter of 2025. TD Cowen noted that U.S. market data suggests Tesla is experiencing "demand deferral" rather than "demand destruction."
The firm lowered its second-quarter earnings per share estimate to $0.33 from $0.37 based on the reduced delivery forecast. However, TD Cowen maintained its longer-term financial projections for the electric vehicle manufacturer.
The research firm indicated it would revisit its financial model after Tesla releases its official delivery figures next week, which typically occurs within the first few days following the end of each quarter.
In other recent news, Tesla has experienced a series of notable developments. The electric vehicle maker recently launched its much-anticipated robotaxi service in Austin, prompting Benchmark to raise its price target on Tesla to $475 from $350, while maintaining a Buy rating. TD Cowen also reiterated its buy rating with a $330 price target, highlighting the success of the initial robotaxi launch. Meanwhile, Tesla’s European sales have declined, with a 27.9% drop in May compared to the same month last year, as Chinese electric vehicle makers gain ground in the region. Additionally, Tesla has requested that its responses to the National Highway Traffic Safety Administration regarding robotaxi safety remain confidential. The company is also facing internal changes, with the departure of executive Omead Afshar amid a challenging period for the company. These personnel changes come as Tesla continues to focus on artificial intelligence, robots, and autonomous vehicles. Tesla is expected to announce its global delivery results for the second quarter soon.
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