Tesla Q4 2024 earnings: Guggenheim Securities shares cautious outlook
01/28/2025 10:14 AM
Guggenheim Securities automotive equity research director Ron Jewsikow recently shared a cautious outlook on electric vehicle maker Tesla (NASDAQ:TSLA).
The analyst shared his insights during a Market Domination segment with Yahoo Finance.
Guggenheim's TSLA outlook:
- Guggenheim is one of the eclectic vehicle maker’s bears, with the firm currently giving TSLA shares a “Sell” rating and a $175 per share price target.
- While speaking to Yahoo Finance, Jewsikow noted that he expects Tesla to fall short of Wall Street’s expectations on auto gross margins excluding regulatory credits.
- “Tesla was quite promotional in the fourth quarter to try and hit their volume growth targets for the year, and as a result, the revenue per vehicle essentially is going to be quite a bit weaker than the Street is forecasting,” Jewsikow noted.
Guggenheim Securities director Ron Jewsikow says $TSLA investors should buckle up because it could be a bumpy road ahead for the EV maker.
— Yahoo Finance (@YahooFinance) January 27, 2025
He has a Sell rating on the stock ahead of earnings.
Full comments: pic.twitter.com/foaiqVx0ek
Bearish despite Trump:
- Despite Tesla CEO Elon Musk’s close ties to U.S. President Donald Trump, the Guggenheim analyst still noted that the electric vehicle maker likely still faces regulatory hurdles with some of its most important programs.
- “We would push back that the vast majority of the bottlenecks on Tesla’s kind of pathway to robotaxis and self-driving vehicles is going to come in the form of state and local regulators that have the ability really to control what goes on the road in their jurisdictions, as well as just technological progress,” the analyst stated.
Wall Street on TSLA’s 2025 performance:
- Wall Street seems to be adopting a fairly cautious stance on Tesla overall.
- As per analyst forecasts gathered by FactSet, Tesla is predicted to sell 2.07 million vehicles in 2025, up just 16% compared to its 2024 sales figures.
- “Trump 2.0 opposition to EV incentives has hit 2025 volume expectations,” Morgan Stanley analyst Adam Jonas stated.
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