(News Bulletin 247) – The analyst believes that second quarter deliveries are significantly higher than expected. ‘Second quarter deliveries were well above target.’ Following this announcement, Wedbush confirms its advice of Outperformance and its price target of $300.
Tesla announced a total of 466,000 deliveries, compared to 447,000 estimated by the markets before the publication of these figures. Model 3/Y deliveries were 446.9k (vs. estimate 429.8k) with Model S/X units 19.2k (vs. estimate 16.0k).
‘Production for the quarter was 479.7k, indicating an improvement in production and capacity for Tesla globally. Tesla continues to play chess while other players in the electric vehicle market play checkers, ‘says the analyst firm.
“Overall, we believe Tesla should deliver 1.8 million units for the year with this performance and should be able to do so with shrinking margins as the year progresses. and recovers in fiscal year 2024,” Wedbush said.
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