[Yamato lowers Tesla's target price to $245, growth slowdown will continue until 2025] Jinshi Data reported on January 29 that Yamato published a rating report, maintaining Tesla's (TSLA.O) delivery forecast of 13% growth this year and 17% forecast for electric vehicle gross margin. Due to lower expectations, the group is considered to have a more favorable setup. The bank lowered the group's earnings per share forecast for next year from $5.5 to $4.25, reflecting lower profit margins and higher tax rates, and expects its growth slowdown to continue until 2025. The bank said that Tesla's growth challenges may last longer, but Tesla is paving its market share growth through next-generation vehicles, energy storage and fully autonomous driving. Looking ahead to 2025, the bank continues to expect Tesla's delivery growth of 16%, but lowered its EBIT margin forecast by 200 basis points, reflecting investment in the development of the next generation of vehicles. As weak growth this year has largely become a market consensus, the bank believes that its sharp correction in stock price is an opportunity to increase holdings. The bank lowered its target price from $280 to $245 and maintained its rating as outperforming the market. (Reprinted from: Jinshi Data)