President Donald Trump and Tesla CEO Elon Musk speak to reporters in front of a red Model S Tesla vehicle on the South Lawn of the White House Tuesday, March 11, 2025, in Washington. JPMorgan analysts told clients last week that they expect Tesla to report its lowest number of deliveries since the third quarter of 2022 (Pool via AP) AP

In a new report issued Sunday, Mizuho analysts, led by Vijay Rakesh, revised their Tesla price target downward by $85 to $430, citing deteriorating demand. The firm also cut its 2025 vehicle delivery forecast from 2.3 million to 1.8 million, a 22% reduction that falls below the broader market consensus of 2 million deliveries.