Truist Securities Lowers Tesla Price Target to $400

Truist Securities analyst William Stein lowered the price target on Tesla (NASDAQ: TSLA) to $400.00 (from $438.00) while maintaining a Hold rating.

“Q1 auto & energy deliveries were below Street and TSLA offered no updates on the more important topics: AI projects & new vehicles.

Today, TSLA announced that it delivered 358k units in 1Q26, below consensus & our estimate. Energy storage deployments also missed consensus.

We assert investors should be more focused on AI projects, especially FSD (see our latest and prior reviews).

We view AI developments as far more important than auto deliveries for TSLA’s long-term cash generation and stock performance.

Our near-term EPS estimates decline modestly, and PT goes to $400 (fr. $438). Hold.”

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