Mar 17, 12:00 PM

Tesla's Price Target Slashed to $430 by Mizuho, Netflix Upgraded Amid Market Shifts

Tesla Inc. faced a significant adjustment in its stock price target as Mizuho lowered it to $430 from $515, while maintaining an Outperform rating. This revision reflects concerns over sales weakness, geopolitical risks, and competitive pressures in the electric vehicle market. Mizuho also reduced its delivery estimates for Tesla for 2025 and 2026 from 2.3 million and 2.9 million to 1.8 million and 2.3 million units, respectively, citing underperformance in key markets such as the US, China, and Germany. Tesla shares dropped 3% following the announcement. In contrast, Netflix Inc. received a positive outlook from MoffettNathanson, which upgraded the stock to Buy from Neutral and raised its price target to $1,100 from $850. The upgrade is based on expectations of margin expansion and valuation upside for the streaming giant. Several other companies also saw analyst actions on their stocks. Cloudflare Inc. was reiterated as Market Outperform by Citizens JMP with a price target of $180, emphasizing its focus on AI strategy and innovation. Bill.com Holdings Inc. was reiterated as Buy by Needham with a price target of $100, driven by cross-sell opportunities and embedded offerings. Datadog Inc., Shopify Inc., and Snowflake Inc. were all reiterated as Buy by DA Davidson with price targets of $165, $150, and $225 respectively, highlighting various growth drivers including AI and global expansion. Additionally, Rivian's price target was lowered by Mizuho due to tariff uncertainty, and Cathie Wood of ARK Invest maintained a $2,600 price target for Tesla despite the stock's recent decline.