Piper sees ‘best-case scenario’ following Tesla’s ‘weak’ Q1

Piper Sandler believes the “best-case scenario has materialized” from Tesla’s (TSLA) Q1 report. The print is being viewed as a non-event, which, when considering the “generally weak” financials, is the best result that Tesla bulls could have reasonably hoped for, the analyst tells investors in a research note. Piper believes the most important Q1 takeaway is Tesla not hedging expectations for launching robo-taxis or lower-priced vehicles in the second half of 2025. With less than two months until the end of June, investors “can look forward to some interesting catalysts in the weeks ahead,” contends the firm. It believes “this alone should be enough to keep the bears at bay.” Piper reiterates an Overweigh rating on Tesla with a $400 price target