Expectations for Tesla are weakening: JPMorgan revises its stock price target.

JPMorgan (JPM) has lowered its price target for Tesla. The firm anticipates a decline in Tesla's vehicle deliveries this year compared to previous expectations, citing negative perceptions among current and potential customers that could adversely affect the company's sales. Protests at Tesla stores in the U.S. and other countries, along with sales boycotts and the increasing trend of selling used Tesla vehicles, indicate a loss of confidence in the brand.

JPMorgan expects Tesla to deliver approximately 1.78 million vehicles, a decrease of about 1% compared to 2024. In line with these expectations, the stock price target for Tesla has been reduced from $135 to $120. Meanwhile, the market median target for Tesla's stock price stands at $370, suggesting that JPMorgan's outlook on Tesla is notably cautious compared to the broader market.