Truist Cuts Tesla (TSLA) PT to $439 as Record Energy Storage Offsets Q4 Delivery Miss

Group 1 - Tesla Inc. reported a total of 418,000 vehicle deliveries in Q4 2025, which was characterized as a better-than-feared reaction from investors despite lagging vehicle deliveries [1][3] - The company achieved record-breaking performance in energy storage with 14.2 GWh deployed in Q4 2025, contributing positively to its overall performance [3][4] - For the full year 2025, Tesla produced 1,654,667 vehicles and delivered 1,636,129 units, with the Model 3/Y being the primary growth driver [4] Group 2 - Truist analyst William Stein lowered Tesla's price target to $439 from $444, maintaining a Hold rating on the shares [1] - The investment thesis is shifting towards Tesla's AI initiatives, particularly Full Self-Driving (FSD), which are now seen as key drivers of long-term cash flow and stock valuation [2] - The energy storage business achieved a total of 46.7 GWh in deployments for the entire year, indicating substantial scale across both automotive and energy sectors [4]