Credit Suisse analyst Dan Levy lowered the firm’s price target on Tesla to $1,000 from $1,125 and keeps an Outperform rating on the shares. The analyst expects Tesla Q2 deliveries of 242,000, below the sell-side consensus of 280,000, largely driven by the Shanghai COVID shutdown. Moreover, given the lower deliveries outlook, the associated margin impact, and an expected bitcoin impairment, he reduce his Q2 earnings per share estimate to $1.10 from $2.06, below the consensus of $2.08. Nevertheless, Levy remains positive on Tesla, saying its long-term fundamentals are intact and that the widening supply constraints will likely extend its lead over other car makers in the race to electric vehicles.