Tesla Stock: What To Make of ‘Upgraded’ $25.28 Price Target?

Tesla Inc. (TSLA) is under renewed scrutiny as GLJ Research adjusted its price target upwards to $25.28 while maintaining a ‘Sell' rating, a move that highlights the complexities facing the electric vehicle giant.

The stock, currently trading at $438.10, up 1.19% unsurprisingly shrugs off the report, so what should we make of it?

The company is firm Tesla bear, and the latest view highlights this. Despite the raise, GLJ Research's meagre price target underscores concerns about Tesla's earnings potential, particularly in light of recent delivery figures. The company reported 418,227 vehicle deliveries in Q4 2025, marking a 15% year-over-year decline.

This downturn is attributed to several factors, including a shift towards discounted Model Y vehicles outside of China and the expiration of U.S. federal mandates requiring automakers to purchase ZEV credits from Tesla, impacting revenue streams.

The full-year 2025 figures paint a similar picture, with Tesla delivering 1,636,129 vehicles, an 8.6% decrease from the previous year. This represents the lowest annual delivery figure since 2022. Political backlash against CEO Elon Musk's activities and the conclusion of U.S. federal electric vehicle tax credits further contributed to this decline. Moreover, the aging vehicle lineup is seen as diminishing the company’s competitive edge in an increasingly crowded market.

However, Tesla's energy storage business presents a contrasting narrative. In Q4 2025, the company deployed a record 14.2 GWh of energy storage products, contributing to a total of 46.7 GWh for the year. This represents a substantial 48% increase compared to 2024, showcasing the potential of Tesla's energy division to partially offset weaknesses in its automotive sector. The growth in energy storage indicates a diversified revenue stream and a strategic pivot towards sustainable energy solutions.

Tesla's current market position is a complex interplay of challenges and opportunities; where the growth of its energy storage segment, and the future of robotics and robotaxis are crucial to buoying overall performance as the automotive sector navigates significant obstacles.

The latest price target suggests that GLJ is a bear that is not for shifting, and whilst it is very healthy to take the views of both sides, it appears as through this is something that the market is prepared to overlook at this time. After a 48.92% gain over the past 6 months, Tesla bulls continue to look upward.