Tesla (TSLA): Barclays expects 1Q deliveries beat
Barclays analyst Dan Levy reiterated an Overweight rating and $275.00 price target on Tesla (NASDAQ: TSLA). Key takeaways from his note:
1) "Expect 1Q deliveries beat, 425k vs cons. 420k; beat could be +ve catalyst;
2) Expect 1Q production 430k;
3) Inventory likely to remain “elevated”;
4) Additional price cuts likely, but Tesla can better afford cuts over other OEMs;
5) IRA likely temporary boost in US, may have pulled forward demand."
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Shares of Tesla closed at $190.41 yesterday.