JPMorgan cuts Tesla price target, sees stock getting slashed in half

JPMorgan forecasts an even greater fall for Tesla shares amid rising boycotts and protests of the brand around the world. Analyst Ryan Brinkman cut his price target on the stock to $120 from $135, which implies shares plunging around 48% from Tuesday’s close. The outlook for deliveries and pricing looks difficult for the electric vehicle maker, Brinkman said, as CEO Elon Musk’s controversial political activities have sparked a wave of criticism . This comes on top of a slow start to 2025, per the analyst. Brinkman now sees Tesla’s first-quarter sales coming in at about 355,000, down from an earlier estimate of 444,000. That reflects an 8% decline year over year and a 28% plunge on a quarterly basis. Potential new buyers have staged boycotts of the brand in recent weeks. There have also been reports of vandalism and arson attacks across Tesla vehicles, dealerships and charging stations, according to NBC News .