Tesla’s biggest supporters on Wall Street are nervous about the company's first quarter results

"We can't deny some nervousness about Q1 results," Philippe Houchois , an analyst for Jefferies, told clients Wednesday. Despite his long-standing $450 price target — a 40% upside to the stock's latest prices — Houchois is joining other bullish analysts in tampering expectations for the current quarter.

"We lack visibility on how much the decline in pent-up demand will affect deliveries in the U.S.," he continued,"and how much international expansion and lower-price SKUs will boost demand, but we remain confident the net effect will be positive enough for Tesla to thrive in 2019."

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