Tesla Inc. is facing analyst downgrades and negative outlooks from major financial institutions. Wells Fargo reports that Tesla's second-quarter deliveries are trending 21% lower year-over-year, with May deliveries down 23%. All key regions are experiencing double-digit declines, with the European market showing the steepest drop. Wells Fargo has maintained an Underweight rating on Tesla and set a price target of $120 per share, projecting a 60% to 61% decline from current levels. Analyst Colin Langan attributes the bearish outlook to a weakening core automotive business and 'meaningfully weaker' sales trends. The firm expects Tesla's Q2 deliveries to mark another poor quarter. J.P. Morgan has also recommended selling Tesla shares in favor of Aptiv and BorgWarner. Wall Street ratings currently stand at 30 Buy, 18 Hold, and 13 Sell recommendations. GLJ Research projects Tesla could exit 2025 below $100 per share. Fund manager Gary Black, who recently sold his remaining Tesla shares, cited concerns over company volatility and management focus. Black noted that Tesla currently trades at 150 times future earnings. He now favors technology stocks such as Nvidia, Meta, Amazon, and DoorDash, which he considers more attractively valued. The S&P 500 is trading at 26 times its near-final figure for Q1 earnings.