Tesla CEO Elon Musk’s foray into politics has been focusing on the company in recent months, but Piper Sandler has seen the wait time, another perpetrator who is hurting the business. In a note to his client released Monday, analyst Alexander Potter considers Musk’s unease over political activity as “overdoing.” Instead, he said the expected drop in delivery seen in the first quarter could be choked up to Model Y’s wait spikes. “It’s naive to argue that Elon Musk’s actions have not affected demand. “But I think it’s wrong to point out politics as a major factor in Tesla’s double-digit Y/Y delivery.” A solid analysis of Tesla.com’s data shows that supply should be seen as a bigger driver, although likely to be a first-quarter delivery error. Specifically, Potter points to multiple weekly shutdowns at the factory, preventing Model Y from thwarting. Despite that obstacle, Potter said he remains bullish on stock, with new products expected to be announced and that Robotaki is set to be released in the coming months. He repeated his overweight rating and a price target of $450. In 2025, TSLA YTD Mountain Tesla fell around 31% this year, marking the stock’s turn, which saw its once a weekly winning streak. The shares were below 1% on Tuesday, following Potter’s appeal. Meanwhile, to deal with recent attacks on the brand, the FBI launched a task force on Monday focusing on threats to Tesla. President Donald Trump also said he would buy one of the company’s electric vehicles earlier this month and buy them at a show supporting masks. Get tickets for Pro Live Join us on the New York Stock Exchange! An uncertain market? Earn Edge with CNBC Pro Live, the first exclusive event on the historic New York Stock Exchange. Access to expert insights is paramount in today’s dynamic financial situation. As a CNBC Pro subscriber, we recommend attending the first exclusive and in-person CNBC Pro live event held at the iconic NYSE on Thursday, June 12th. You will also get the opportunity to network with CNBC experts, talent and other pro subscribers during exciting cocktail hours on the legendary trading floor. Tickets are limited!
