GLJ Research Trims Tesla (TSLA) Q2 Delivery Estimates, Raise FY21

June 22, 2021 9:58 AM EDT
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GLJ Research analyst Gordon Johnson trimmed his Q2 delivery estimates on Tesla (NASDAQ: TSLA) while bumping his FY 2021 delivery estimate.

The Q2 delivery estimate goes down to 194K from 196K, while 2021 goes up to 799.7K from 783.9K.

"The impetus for our decision rests with our view that Chinese sales in June 2021 come in around 30K..." Johnson commented.

While making the changes, Johnson said investors should be on the lookout for adjustments from other "select analysts".

"However, we will remind our readers, as is typical with TSLA, right ahead of month end, should the company see a number closer to our figure vs. Cons, TSLA's IR will likely send out a "delivery est. roundup" to select analysts, which, if history repeats, will move the "current" Cons est. lower (i.e., the bar will be moved lower in order to make it easier for TSLA to "beat")," he commented. "Stated differently, the next few days of Cons "adjustments" should be rather telling."

The reiterated a Sell rating and $67.00 price target on TSLA.

For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.

Shares of Tesla closed at $620.83 yesterday.

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