Jefferies Sees Tesla (TSLA) Consensus as Too Low

Jefferies analyst Philippe Houchois reiterated a Hold rating and $700.00 price target on Tesla (NASDAQ: TSLA) after the company reported a solid Q2 surprise, with clean margins and a solid sequential ASP recovery even ahead of new Model S/X ramps. Q2 revenue was $12.0bn, +98%/+15% yoy/qoq. Auto ex ZEV $9.85bn (cons $9.5bn) with ZEV income $354m (cons $401m, Q1 $518m).

While the analyst commented in the title that consensus looks too low, there was no detail in the note supporting that statement but he stated "The outlook is unchanged but sounding more confident despite continuing supply chain issues. The FY consensus looks quite conservative. 4680 format nearing production confirms Tesla remains ahead of industry. Mixed comments from CEO Musk on FSD suggest further delays."

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 $657.62 yesterday.

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