GLJ Maintains Sell Rating on Tesla (TSLA)

Tesla, Inc. (NASDAQ:TSLA) is one of the 10 Best Car Stocks to Buy in 2026. On March 30, GLJ Research reiterated its Sell rating on Tesla, Inc. (NASDAQ:TSLA) with a price target of $24.86 on the stock. Analyst Gordon Johnson also shared the firm’s final estimate for the company’s deliveries for the first quarter of 2026.

GLJ Research forecasts Tesla, Inc. (NASDAQ:TSLA) will deliver 368,478 vehicles in Q1 2026, which is 0.8% more than the Wall Street consensus of 365,645 and also 5.7% higher than the firm’s own March 13 estimate of 348,714.

GLJ Maintains Sell Rating on Tesla (TSLA)

Despite the above-consensus delivery forecast, GLJ Research has maintained its sell rating on the stock. The research firm noted that Tesla, Inc.’s (NASDAQ:TSLA) automotive deliveries represent a decline of 25.9% compared to the peak quarterly deliveries of 497,099 units in the third quarter of 2025.

GLJ Research also said the expected growth in volume is not driven by organic demand but instead it is driven by margin-dilutive subsidy arbitrage in Korea and a weak comparison base from Q1 2025, when Tesla, Inc. (NASDAQ:TSLA) delivered 336,681 units.

Tesla, Inc. (NASDAQ:TSLA) is an American multinational clean energy and electric vehicle (EV) company that specializes in EVs, battery energy storage devices, solar panels, and related products and services.

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