Tesla’s Q2 Delivery Concerns Weigh on Stock Amid Broader Market Uncertainty
Tesla shares slid 4% as European sales dropped 27% in May, extending a five-month decline. Analysts warn the EV Maker may miss Q2 delivery estimates by 10%, with UBS projecting just 366,000 units against consensus expectations. The stock's 19% YTD drop reflects weak Q1 results, intensifying competition, and controversy surrounding Elon Musk's political activities.
While Baird maintains bullish sentiment, UBS's $215 price target underscores growing skepticism. The upcoming earnings call presents a critical opportunity for Musk to articulate Tesla's long-term vision amidst mounting execution challenges.