Tesla (TSLA) Deliveries Likely to Miss Expectations, New Street Research Explains
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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".
Shares of Tesla closed at $638.19 yesterday.
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