Gronghui, April 15 | Citibank released a report that lowered Tesla's 2024 earnings per share from $2.71 to $2.11, reflecting first-quarter earnings estimates and early April data performance. It also indicated that the 2024-26 earnings per share was still lower than market expectations, and the target price was reduced from 196 US dollars to 180 US dollars. The bank also lowered the Group's shipment forecast for 2024 and 2025 from 1.97 million units and 2.2 million vehicles to 1.76 million units and 1.8 million vehicles. Based on factors such as the age and saturation of Tesla products, short-term demand is not ideal. Short-term predictions have more room for downside than upside, maintain a “neutral” rating, and wait for a better time to buy. The bank agreed with Tesla's emphasis on fully automated vehicles, and has always agreed that this is the most disruptive trend in traffic. Regarding the August 8 press conference, Citi believes that two scenarios may occur. 1) Similar to Autonomy Day in 2019, the company unveiled the fully automated driverless taxi RoboTaxi at the event, but there were no specific deployment plans, leaving various open questions. The above will be very disappointing for investors; 2) Along with RoboTaxi, revealing a persuasive deployment route can be deep fully autonomous driving (FSD) and artificial intelligence performance or other deployment methods. For example, the company can propose a credible or different deployment strategy on the same day, which will have a positive impact on stock prices.