01:00 PM EDT, 04/02/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We cut our 12-month target by $15 to $220, based on a 2025 P/E of 55x, justified by long-term growth expectations. We lower our adjusted EPS estimates by $0.25 to $2.75 for 2024 and by $0.25 to $4.00 for 2025. TSLA posted Q1 vehicle sales of 386,810 units (-8.5% Y/Y), well short of the 457,000 consensus and our 460,000 estimate. Production totaled 433,371 units (-2% Y/Y) vs. our 440,000 estimate and was impacted by Red Sea shipping delays and an arson attack on its Berlin plant, where production was down for approximately eight days before electricity was restored. Cybertruck volumes were particularly disappointing, raising questions about its ramp-up of the new model. Despite near-term headwinds, we continue to regard Tesla as one of the market's most compelling long-term growth stories and the stock appears to be fully discounting various issues surrounding the name after a precipitous YTD drop. We see catalysts on the horizon with the likely unveiling of its Next Gen EV model and Roadster later this year.