Tesla faces delivery concerns and price target cuts amid Robotaxi distraction

Wall Street analysts such as Piper Sandler and Jefferies cut their Tesla (TSLA) price targets and lower sales forecasts due to concerns over recent volatility and expected declines in deliveries.

Critics suggest Tesla CEO Elon Musk's claims about Robotaxi are a distraction from concerning sales trends that could show declines in coming quarters.

Jefferies notes Robotaxi is helping sentiment but has doubts about its near-term fundamental impact, while April has been a month to forget for Tesla with price target reductions.

While pointing to a demand issue, Piper Sandler says it is confident Tesla can overcome problems by 2026.

Long term, Tesla could be strong in 2026 if investors can withstand volatility over the next 18-24 months, per comments.