Tesla (TSLA) Deliveries Likely to Miss Expectations, New Street Research Explains

March 31, 2021 7:23 AM EDT
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Price: $719.20 -0.07%

Rating Summary:
    21 Buy, 21 Hold, 11 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 10 | New: 71
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New Street Research analyst Pierre Ferragu reiterated a Buy rating on Tesla (NASDAQ: TSLA) but believes estimates for 1Q deliveries are too high and the company is likely to miss consensus by 5% due to the Model S&X delays and a slower than expected model Y ramp.

The analyst remained positive, however, stating "The near-term concerns we highlighted in our recent upgrade are materializing: Delayed Model S&X upgrades, slight delays in Model Y ramp. However, these risks are short-term in nature and do not affect Tesla’s ability to nearly double capacity over the next 2 years. We would buy any weakness".

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 $638.19 yesterday.

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