US Top News and Analysis | Tesla is down sharply in 2026. JPMorgan sees even more declines ahead

Tesla is down sharply in 2026. JPMorgan sees even more declines ahead. The investment bank reiterated its underweight rating for the electric vehicle maker and maintained its $145 price target, which implies roughly 60% downside from Thursday's close. Analyst Ryan Brinkman advised investors to approach TSLA shares with a high degree of caution, noting that while technology and execution risks have diminished, expansion into higher-volume, lower-price segments carries greater risk relative to demand, execution, and competition.

JPMorgan lowered its 2026 earnings per share forecast for Tesla to $1.80 from $2, below consensus estimates, after the company delivered fewer vehicles than expected in the first quarter—around 358,000 compared to the anticipated 370,000. Despite acknowledging Tesla’s strengths, including its differentiated business model, appealing product portfolio, and leading-edge technology, the bank concluded these positives are more than offset by above-average execution risk, rising competition, brand-related controversy, and a valuation that appears to price in excessive optimism.

The call contrasts sharply with Wall Street consensus, as only 10 of the 54 analysts covering Tesla currently hold an underperform or sell rating, according to LSEG. While Tesla shares have fallen nearly 20% year-to-date, they remain up about 51% over the past 12 months, highlighting the divergence between short-term pessimism and longer-term gains.

Read more: https://www.cnbc.com/2026/04/06/tesla-is-down-sharply-in-2026-jpmorgan-sees-even-more-declines-ahead.html

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