**Tesla’s Stock Drops Ahead of Q2 Deliveries Report**
On Tuesday, Tesla (NASDAQ: TSLA) saw a 6% decrease in stock price by 3:15 p.m. ET, a week before the company is set to report its Q2 deliveries. This decline followed UBS maintaining a “neutral” rating on Tesla shares, with analyst Joseph Spak setting a price target of $364—10% below Tesla’s closing price on Monday.
Spak has raised estimates for Q2 deliveries from 380,000 to 405,000, indicating a 5% year-over-year growth. However, this projection may still fall short of consensus forecasts, which range between 400,000 and 420,000. Despite concerns about potential shortfalls in car deliveries, Spak highlighted that Tesla’s Energy Generation and Storage business could see up to 40% sales growth in Q2, potentially offsetting declines in automotive sales.
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