HSBC Tesla · TSLA

HSBC Keeps Reduce on Tesla, $120 Price Target

Analyst: Michael Tyndall 1 min read Reproduced verbatim
Rating
Reduce
Unchanged
Target
$120
Outcome
Missed
within 12 months
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What the analyst said

HSBC analyst Michael Tyndall reiterated a Reduce rating and $120 price target on Tesla (NASDAQ: TSLA).

“Q2 was the third successive quarter the group missed consensus EBIT expectations; in fact it was the 11th miss in 12 quarters.

Management flagged more tough quarters are to come as the US tariff headwind increases (USD300m in Q2) and the end of US incentives for EVs and residential battery storage will hurt demand.

There were few comments around auto volume growth (but test drives are up), whilst the ramp of the more affordable model is expected to be slower and later than previously guided.

We think Tesla’s auto problems are structural – an aging product portfolio, increasing competition, and brand issues continue to weigh on volumes.

We lower our FY25 and FY26 OP forecasts by 27% and 23% respectively. They are now c66% below where they were a year ago.”

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This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

TSLA trades at $344. The 17 analysts who set a target in the last 3 months range from $24.86 to $500, with a median of $442. This $120 target is 73% below the median.

Since the note TSLA has moved +3% (from $333). The 12-month window closed on July 24, 2026.

Track record

This call✗ Not reached within 12 months: a year after the note TSLA closed at $420, 250% above the $120 target, and it moved the other way. Same target as this firm’s July 3, 2025 note, so it is scored there.

Firm track recordHSBC: 60% of its 20 targets at least a year old were reached within 12 months (#24 of 26 firms); on Tesla, 0 of 4. Accuracy ranking →

HSBC on Tesla

HSBC price targets on Tesla

7 calls from April 24, 2025 to October 5, 2026. The target went from $120 to $157 (+31%). The rating stayed Sell.

HSBC targetTSLA share price
  1. October 5, 2026Target raised from $131 (+20%)Sell$157
  2. January 4, 2026Kept the $131 targetSell$131
  3. November 17, 2025Target raised from $127 (+3%)Sell$131
  4. September 29, 2025Target raised from $120 (+6%)Sell$127
  5. July 24, 2025 This noteKept the $120 targetSell$120
  6. July 3, 2025Kept the $120 targetSell$120
  7. April 24, 2025Earliest call shownSell$120
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Other analysts on Tesla

CantorBuy Kept rating and price target Oct 26 $485maintained BarclaysBuy Upgraded, raised price target +22% Oct 26 $450from $370 StoneXBuy Kept rating and price target Oct 22 $475maintained BNP ParibasHold Upgraded Oct 22 Morgan StanleyHold Raised price target +2%, kept rating Oct 22 $410from $400
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.