Eyes on AI! Wedbush Keeps $600 Tesla Stock Price Target despite Q1 Miss

4 hours ago 3

Shares of Tesla (TSLA) dropped 5.42% connected Thursday aft the EV shaper delivered 358,023 vehicles successful Q1, missing Wall Street’s estimation of 370,000. Despite the miss, Wedbush’s five-star-rated expert Dan Ives maintained his Buy standing and $600 terms people connected TSLA stock, citing AI propulsion and robotaxi plans arsenic cardinal drivers for 2026. Ives’s terms people implies an upside of implicit 65% from existent levels.

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For context, this marks the 2nd consecutive 4th successful which Tesla has missed expert expectations. The institution besides deployed 8.8 GWh (gigawatt-hour) of vigor retention during the quarter, falling abbreviated of the Street’s 14.4 GWh estimate.

Reacting to the Q1 numbers, Ives said the anemic transportation numbers were not a surprise, fixed the brushed EV request crossed regions and Tesla’s displacement toward its AI strategy. However, helium called Q1 deliveries an “underwhelming” commencement to the year.

He noted that Europe remains a important situation for Tesla, arsenic the institution faces regulatory hurdles successful obtaining support for its Full Self-Driving (FSD) technology. As a result, determination income are improbable to retrieve meaningfully until regulators springiness the greenish light—something the steadfast expects to hap successful the archetypal fractional of 2026. Meanwhile, Ives highlighted that China was a beardown performer, with Tesla’s deliveries rising 35% twelvemonth implicit twelvemonth successful the archetypal 2 months of 2026.

Ives further stated that Tesla’s semipermanent strategy is focused connected gathering dependable gross from AI and robotics. It plans to put astir $20 cardinal successful caller factories for its Cybercab, Optimus robot, artillery production, and expanding AI computing capacity.

According to TipRanks, TSLA banal has received a Hold statement rating, with 13 Buys, 11 Holds, and 7 Sells assigned successful the past 3 months. The mean terms people for Tesla shares is $394.36, suggesting a imaginable upside of 9.36% from the existent level.

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