[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Stock Talk [@stocktalkweekly](/creator/twitter/stocktalkweekly) on x 322.2K followers Created: 2025-07-24 12:11:58 UTC WALL ST. COMMENTS ON TESLA $TSLA EARNINGS PIPER SANDLER - 'OVERWEIGHT' - $XXX PT: "We remain Overweight, following today's Q2 results. TSLA is indicated lower by ~5% in after-hours trading, but we're not sure why (we would welcome any theories). Yes, there's no "traditional" valuation support at this level, but that was the case before the call. So what changed? The financials were solid, so that's not the issue. Perhaps people are misinterpreting Elon Musk's comment that a coming new product will look exactly like Model Y. We can see how that might be disappointing, but in the context of FSD, we don't really care what Tesla's next product looks like. Elon also predicted difficult quarters ahead, as U.S. government support wanes. But if half the U.S. population will have access to unsupervised FSD by 2026, a difficult quarter in 4Q25 shouldn't matter, either." MIZUHO - 'OUTPERFORM' - $XXX PT: "TSLA reported inline 2Q25E Rev/EPS of $22.5B/$0.40 (vs. cons. $22.6B/$0.42). Auto GMs ex-ZEV credits better at ~15% vs. cons. ~13.3%, up 250bps q/q. TSLA did not guide 2025E deliveries noting 'shifting global trade and fiscal policies'. 2Q25 deliveries were dn ~14% y/y, as we estimate full-year 2025E at dn XX% y/y though 2H25E slightly better with NA test drives up XX% q/q. TSLA noting EV subsidy end in SepQ could see potential for some 'rough quarters in 4Q25/1H26E' with need to drive affordability/sales in the absence of subsidies. Maintain Outperform, PT $375, adjust estimates, as we see TSLA positioned well to disrupt AV and Robotics despite near-term EV demand headwinds." CANACCORD - 'BUY' - $XXX PT: "We are raising our PT from $XXX to $XXX. This target is based on ~38x our 2027E non-GAAP EPS of $XXXX. We feel this multiple is justified based on the multiples and growth rates of Tesla’s comp set — which we deem to be a group of megacap tech stocks, including Alphabet, Amazon, Apple, Meta, Microsoft, and Nvidia. This set of companies trades at a median of ~24x 2027E EPS (FactSet) but has a combined revenue growth rate materially below Tesla’s from 2025 - 2027. Longer term, Tesla has a generational set of growth opportunities ahead, including EVs, autonomy/AI, energy storage, and robotics, which also help justify our premium multiple. We acknowledge the limited upside implied by our price target. However, we believe BUY is the appropriate rating given near-term volatility buttressed by the long-term opportunities beyond the next XX months." BARID - 'NEUTRAL' - $XXX PT: "TSLA reported slightly better than consensus estimates that have been lowered following the Q2 delivery release. The strength of the Energy business’s profitability was the biggest surprise in the financials. Commentary was mixed with Musk providing outlook/timelines for robotaxi (again) while pushing some timelines, e.g., Optimus. The big question is how long does TSLA get a pass on timelines? TSLA is working on revolutionary products such as Robotaxi, Optimus, and Dojo, but we remain at a Neutral rating as we think the near term financials will become the focus." TRUIST- 'NEUTRAL' - $XXX PT: "TSLA's Q2 was noisy, but revs & EPS were inline. Mgmt acknowledged that tariffs, and changes to consumer & regulatory credits could drive revenue, EPS, & FCF lower in the next few qtrs, potentially draining some of TSLA's $37b cash position. The company offered remarkably little detail on some of the most important factors like the new lower priced vehicles, FSD, Dojo, & Optimus, making our outlook lean more on imagination than realistic targets. So, our medium & long-term outlook on these matters is unchanged. Our DCF PT stays $280" BARCLAYS - 'EQUALWEIGHT - $XXX PT: "On one hand, Elon Musk reiterated that Tesla’s future is far beyond the automotive business, with efforts in AI paving the opportunity for Tesla to be the most valuable company in the world. Elon reminded us that Tesla is the clear global leader in real-world AI driven by efforts in Robotaxi and Optimus, with Tesla a clear leader in “intelligence density.” Elon is working on a new “master plan,” articulating the transition from a pre-autonomy to post-autonomy world. Moreover, the potential exists for Tesla to “link arms” with xAI, reinforcing Tesla’s efforts in AI. Alongside comments of expansion in Robotaxi, we believe the narrative remains intact. Yet while the AI narrative remains intact for Tesla, the call reminded us that fundamentals remain choppy, and are likely to deteriorate in the coming quarters. With the expiration of the US EV tax credit at the end of 3Q, Elon Musk noted there could be a few “rough quarters.” Moreover, Tesla also talked to reduced regulatory credit sales related to modified emissions standards. The impact of tariffs will magnify. And lastly, while the new low-cost model was effectively pushed to 4Q, we still see likelihood that it is a decontented Model Y…begging the question of how much incremental demand it will spur." UBS - 'NEUTRAL' - $XXX PT: "The near term fundamental outlook for TSLA remains challenged. The company is facing the end of the $7.5k consumer EV credit in the US, which will likely be a drag on demand, the brand continues to have challenges in Europe and China remains competitive. Yes, there are 'new models' but these are really Model Y variants which could limit incremental demand. We now model 2026 deliveries at 1.62mm (+8% y/y) and -XX% below consensus at 1.98mm. Further, TSLA will likely lose a large portion of their EV credit revenue, which is XXX% margin accretive, and should weigh on profitability into next year. All in, we are lowering our 2026 EPS to $XXXX from $XXXX. However, at the same time, the vision of TSLA as the leading player in robotaxis and humanoids is in its infancy and the ventures are progressing. The stock always remains a battle between what can be and what is. Post earnings, we see negative revisions to estimates, which could weigh in the near-term. Bulls will continue to look past valuation, look for evidence of AI progress and dream big." XXXXXX engagements  **Related Topics** [q2](/topic/q2) [$tsla](/topic/$tsla) [tesla](/topic/tesla) [stocks consumer cyclical](/topic/stocks-consumer-cyclical) [stocks bitcoin treasuries](/topic/stocks-bitcoin-treasuries) [$pipr](/topic/$pipr) [Post Link](https://x.com/stocktalkweekly/status/1948355475436695729)
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Stock Talk @stocktalkweekly on x 322.2K followers
Created: 2025-07-24 12:11:58 UTC
WALL ST. COMMENTS ON TESLA $TSLA EARNINGS
PIPER SANDLER - 'OVERWEIGHT' - $XXX PT: "We remain Overweight, following today's Q2 results. TSLA is indicated lower by ~5% in after-hours trading, but we're not sure why (we would welcome any theories). Yes, there's no "traditional" valuation support at this level, but that was the case before the call. So what changed? The financials were solid, so that's not the issue. Perhaps people are misinterpreting Elon Musk's comment that a coming new product will look exactly like Model Y. We can see how that might be disappointing, but in the context of FSD, we don't really care what Tesla's next product looks like. Elon also predicted difficult quarters ahead, as U.S. government support wanes. But if half the U.S. population will have access to unsupervised FSD by 2026, a difficult quarter in 4Q25 shouldn't matter, either."
MIZUHO - 'OUTPERFORM' - $XXX PT: "TSLA reported inline 2Q25E Rev/EPS of $22.5B/$0.40 (vs. cons. $22.6B/$0.42). Auto GMs ex-ZEV credits better at ~15% vs. cons. ~13.3%, up 250bps q/q. TSLA did not guide 2025E deliveries noting 'shifting global trade and fiscal policies'. 2Q25 deliveries were dn ~14% y/y, as we estimate full-year 2025E at dn XX% y/y though 2H25E slightly better with NA test drives up XX% q/q. TSLA noting EV subsidy end in SepQ could see potential for some 'rough quarters in 4Q25/1H26E' with need to drive affordability/sales in the absence of subsidies. Maintain Outperform, PT $375, adjust estimates, as we see TSLA positioned well to disrupt AV and Robotics despite near-term EV demand headwinds."
CANACCORD - 'BUY' - $XXX PT: "We are raising our PT from $XXX to $XXX. This target is based on ~38x our 2027E non-GAAP EPS of $XXXX. We feel this multiple is justified based on the multiples and growth rates of Tesla’s comp set — which we deem to be a group of megacap tech stocks, including Alphabet, Amazon, Apple, Meta, Microsoft, and Nvidia. This set of companies trades at a median of ~24x 2027E EPS (FactSet) but has a combined revenue growth rate materially below Tesla’s from 2025 - 2027. Longer term, Tesla has a generational set of growth opportunities ahead, including EVs, autonomy/AI, energy storage, and robotics, which also help justify our premium multiple. We acknowledge the limited upside implied by our price target. However, we believe BUY is the appropriate rating given near-term volatility buttressed by the long-term opportunities beyond the next XX months."
BARID - 'NEUTRAL' - $XXX PT: "TSLA reported slightly better than consensus estimates that have been lowered following the Q2 delivery release. The strength of the Energy business’s profitability was the biggest surprise in the financials. Commentary was mixed with Musk providing outlook/timelines for robotaxi (again) while pushing some timelines, e.g., Optimus. The big question is how long does TSLA get a pass on timelines? TSLA is working on revolutionary products such as Robotaxi, Optimus, and Dojo, but we remain at a Neutral rating as we think the near term financials will become the focus."
TRUIST- 'NEUTRAL' - $XXX PT: "TSLA's Q2 was noisy, but revs & EPS were inline. Mgmt acknowledged that tariffs, and changes to consumer & regulatory credits could drive revenue, EPS, & FCF lower in the next few qtrs, potentially draining some of TSLA's $37b cash position. The company offered remarkably little detail on some of the most important factors like the new lower priced vehicles, FSD, Dojo, & Optimus, making our outlook lean more on imagination than realistic targets. So, our medium & long-term outlook on these matters is unchanged. Our DCF PT stays $280"
BARCLAYS - 'EQUALWEIGHT - $XXX PT: "On one hand, Elon Musk reiterated that Tesla’s future is far beyond the automotive business, with efforts in AI paving the opportunity for Tesla to be the most valuable company in the world. Elon reminded us that Tesla is the clear global leader in real-world AI driven by efforts in Robotaxi and Optimus, with Tesla a clear leader in “intelligence density.” Elon is working on a new “master plan,” articulating the transition from a pre-autonomy to post-autonomy world. Moreover, the potential exists for Tesla to “link arms” with xAI, reinforcing Tesla’s efforts in AI. Alongside comments of expansion in Robotaxi, we believe the narrative remains intact.
Yet while the AI narrative remains intact for Tesla, the call reminded us that fundamentals remain choppy, and are likely to deteriorate in the coming quarters. With the expiration of the US EV tax credit at the end of 3Q, Elon Musk noted there could be a few “rough quarters.” Moreover, Tesla also talked to reduced regulatory credit sales related to modified emissions standards. The impact of tariffs will magnify. And lastly, while the new low-cost model was effectively pushed to 4Q, we still see likelihood that it is a decontented Model Y…begging the question of how much incremental demand it will spur."
UBS - 'NEUTRAL' - $XXX PT: "The near term fundamental outlook for TSLA remains challenged. The company is facing the end of the $7.5k consumer EV credit in the US, which will likely be a drag on demand, the brand continues to have challenges in Europe and China remains competitive. Yes, there are 'new models' but these are really Model Y variants which could limit incremental demand. We now model 2026 deliveries at 1.62mm (+8% y/y) and -XX% below consensus at 1.98mm. Further, TSLA will likely lose a large portion of their EV credit revenue, which is XXX% margin accretive, and should weigh on profitability into next year. All in, we are lowering our 2026 EPS to $XXXX from $XXXX. However, at the same time, the vision of TSLA as the leading player in robotaxis and humanoids is in its infancy and the ventures are progressing. The stock always remains a battle between what can be and what is. Post earnings, we see negative revisions to estimates, which could weigh in the near-term. Bulls will continue to look past valuation, look for evidence of AI progress and dream big."
XXXXXX engagements
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