Summarize and humanize this content to 2000 words in 6 paragraphs in English Stifel and Deutsche Bank both recently reduced their price targets on Tesla (TSLA) stock, Schwab Network reported today. The two banks also cut their estimates for the automaker’s deliveries. Stifel Slightly Lowered Its Price Target on TSLA Stifel, an investment bank, cut its price target on Elon Musk’s automaker to $455 from $474. However, Stifel kept a Buy rating on the shares. Was Jim Cramer Right About Tesla Inc. (TSLA)? Nonetheless, Stifel lowered its delivery estimates for TSLA, citing the reduced favorability of Musk among Democrats. According to the investment bank, the latter trend will make it more challenging for TSLA to sell its EVs going forward. Deutsche Bank Cut Its Price Target More Sharply Germany-based Deutsche Bank slashed its price target on TSLA stock to $345 from $420. Like Stifel, Deutsche Bank reduced its price target after cutting its delivery forecast for the automaker. Additional Points Made by Schwab According to the network, analysts have been concerned by Musk’s lack of attention to the automaker amid his work in Washington. The network also noted that the automaker’s deliveries in China and Europe have fallen significantly in recent months. While we acknowledge the potential of TSLA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as TSLA but trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires Disclosure: None. This article is originally published at Insider Monkey.
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