Shares of Tesla Inc. TSLA, -0.54% fell more than 5% in premarket trade Wednesday, as analysts weighed in on its first-quarter production and delivery numbers that missed expectations. J.P. Morgan noted that deliveries were more or less unchanged from the fourth quarter, even though growth was meant to be "supercharged" by the addition of the company's first mass-market model. The company said it would not need to raise capital this year, but it said the same in early 2016 before raising several billion dollars, analysts led by Ryan Brinkman wrote in a note. Brinkman reiterated his underweight rating on the stock and lowered his estimates and stock price target to $185 from $190. Meanwhile, RBC Capital analyst Joseph Spak reiterated his neutral rating, but slashed his stock price target to $305 from $380, saying that while Tesla provided some relief to investors by saying it will not require a debt or equity raise this year, the production miss raises longer-term concerns. Tesla shares have fallen 12% in the last 12 months through Tuesday, while the S&P 500 SPX, -0.72% has gained 11%.