Four Wall Street firms cut Tesla price targets after earnings miss — but keep ratings intact
JPMorgan ($475→$445), Cantor Fitzgerald ($510→$485), Canaccord ($450→$410), and Truist ($430→$370) all lowered their Tesla price targets after the Q2 profit miss — but most kept their Buy/Overweight ratings intact, suggesting confidence in the long-term robotaxi and Optimus growth story hasn't fully cracked despite the near-term stumble.
A wave of Tesla price-target cuts followed Wednesday's Q2 earnings report. Per CNBC's roundup, JPMorgan trimmed its target from $475 to $445, Cantor Fitzgerald from $510 to $485, Canaccord from $450 to $410, and Truist from $430 to $370 — narrowing the range across the four firms to roughly $370–$485.
The reasoning was largely shared: lower average selling prices and shrinking regulatory-credit revenue squeezed margins, driving adjusted EPS to $0.33, well below the $0.50 consensus. Canaccord cited valuation pressure alongside the difficulty of pinning down timing on Tesla's robotaxi and autonomy promises.
Ratings, though, mostly held. Canaccord kept its Buy rating, Cantor Fitzgerald stayed at Overweight, and Truist maintained its existing Hold. Cantor framed fiscal 2026 as a transformational year for autonomy, AI, robotics, and chips — the target came down, but the underlying thesis didn't change.
Taken together, the target cuts paired with unchanged ratings capture Wall Street's current posture: near-term margin pressure is being priced in soberly, without abandoning the long-term robotaxi, Optimus, and AI-infrastructure story — a 'show-me' stance rather than a reversal.
Summaries are prepared by the Tesla Briefing editorial team and may not capture every nuance of the original reporting. You are solely responsible for your own investment decisions.