Tesla price target lowered to $438 from $439 at Truist

Core Viewpoint - Truist has lowered its price target on Tesla (TSLA) to $438 from $439 while maintaining a Hold rating on the shares, indicating a cautious outlook on the stock's performance [1]. Financial Performance - Tesla reported modest upside to Q4 revenue and margins, although it did not provide guidance for Q1, which may raise concerns among investors regarding future performance [1]. Strategic Transition - The company is accelerating its transition to an AI hardware and software company, which is expected to incur significant capital expenditure (capex) costs [1].