J.P.Morgan cut its price target on Tesla's stock as the brokerage expects a second straight year of lower deliveries, with analysts also pointing to a change in sentiment toward the EV maker from existing customers and potential new buyers.

After soaring in 2023 and 2024, shares of Tesla (NASDAQ:TSLA) have been battered over for nearly three months now. To start 2025, the largest U.S. EV-maker has seen its shares drop more than 53% at the time of writing.

After weeks of downturns on Tesla J.P. Morgan has lowered its price target on Tesla’s stock. This is mainly because the company thinks that fewer cars will be delivered for the second year in a row. Analysts also say that current and possibly new customers are feeling differently about the electric vehicle maker.