Tesla falls as brokerage cuts delivery forecast and PT

Shares of electric vehicle maker Tesla TSLA.O fall 6.5% to $246.31

Stifel on Sunday cut PT to $455 from $474, lowered full-year 2025 delivery growth forecasts to 4% from 17% to reflect the roll out of the new Model Y (Juniper) as well as headwinds from sentiment against CEO Elon Musk

Reduced PT represents an upside of ~73% to last close

Tesla is set to report Q1 deliveries on Wednesday; analysts expect Tesla to have delivered about 373,000 vehicles in Q1, according to an average of 15 analysts' estimates from Visible Alpha refreshed in the past 30 days, a 3.6% drop from previous year

Brokerage says protests against Elon Musk, damage to Tesla sites, vandalism of customer-owned cars and Superchargers, is a headwind to sales

Stifel believes that the expected rollout of the more affordable model in 2025 could be a short-term headwind but will help drive growth in sales in the second half

Up to last close, stock had fallen 34.7% YTD