Tesla Falls 5% on Roadster Delay as JPMorgan Raises Target to $475
TSLA•Tesla shares fell 5% Friday, on track for their worst week since June 2025 after postponing the next-generation Roadster unveiling to August or later, dragging Magnificent Seven ETF exposure lower. JPMorgan upgraded Tesla to Neutral with a price target of $475, forecasting EPS to triple to $7.50 by 2030.
1. ETF Performance
On June 5, the Magnificent Seven ETF recorded its sharpest single-day decline in weeks, led by Tesla and Nvidia. Tesla’s 5% slump was the largest contributor to the fund’s losses, reflecting investor concerns over company-specific setbacks.
2. Roadster Deadline Extended
Tesla postponed its next-generation Roadster unveiling to August or later, missing Elon Musk’s original April 1 and revised May–June timeframes. The delay, after no new vehicle launch since Cybertruck deliveries in November 2023, drove shares down 5%, heading toward the worst weekly decline since June 2025. Musk has indicated a SpaceX-enhanced model capable of sub-1-second 0–60 mph acceleration, with a limited-edition version in development.
3. JPMorgan Upgrade
JPMorgan upgraded Tesla from Underweight to Neutral and raised its price target from $145 to $475, citing Tesla’s end-to-end integration across hardware and software. The brokerage projects Tesla’s EPS rising from $1.95 in 2026 to about $7.50 by 2030 and forecasts revenue growth from $95 billion in 2025 to $203 billion by 2030, while noting execution and regulatory risks in scaling new technologies.
