Stifel lowered its price target on Tesla (NASDAQ:TSLA) from $474 to $455, citing a combination of softening consumer sentiment among Democrats and the upcoming rollout of the refreshed Model Y, known as Juniper, as reasons for near-term delivery pressure.
While maintaining a Buy rating, Stifel highlighted data from the firm’s Think Tank Group, which shows a significant drop in Tesla’s favorability among Democratic voters. This trend is expected to act as a temporary drag on U.S. sales, adding another layer of complexity to Tesla’s Q2 and Q3 performance outlook.
In addition, the transition to the updated Model Y could cause a pause in demand as consumers hold off on purchases in anticipation of the new release—typical behavior seen with major product refreshes.
Despite the short-term pressures, Stifel remains optimistic about Tesla’s long-term fundamentals, pointing to its strong brand, expanding product lineup, and innovation pipeline as drivers of sustained value.