Tesla's valuation just got repriced downward. A major securities firm trimmed their price target to $439 from $444, keeping the stock on Hold. What triggered the shift? Q4 delivery numbers came in at 418,000 units—falling short of what both the Street and their own forecast had penciled in. No major updates on the company's strategic roadmap either, which adds to the cautious tone. The gap between expectation and reality here is worth paying attention to if you're tracking the EV space.