[GLJ Research Maintains Sell Rating for Tesla with a Target Price of $24.86] According to a report by Jinse Finance on June 12, GLJ Research analyst Gordon Johnson has maintained a sell rating for Tesla (TSLA.US) with a target price of $24.86, continuing to issue a sell warning for the stock. The analyst expects Tesla's second-quarter delivery data to show some recovery but emphasizes that this rebound is driven by a combination of inventory clearance, seasonal demand, and low base effects, rather than a restart of fundamental growth momentum. Currently, Tesla's inventory levels are at historic highs, coupled with sustained pressure on profit margins, which remain the core risk factors for the stock and the primary basis for GLJ Research's bearish stance.