We continue to see some downside risk to TSLA 3Q earnings - Deutsche Bank
Deutsche Bank analyst Emmanuel Rosner out with comments on Tesla (NASDAQ: TSLA) ahead of today's EPS.
The analyst commented: "With the US auto industry still in the middle of a bitter labor strike, we expect an unusual earnings season for the group. Most traditional OEMs and suppliers could beat Q3 expectations due to higher industry production than expected, better vehicle pricing than feared, and relatively modest strike impact. However, most 2023 company outlooks could be left largely unchanged amid 4Q uncertainty from the ongoing strike. Beyond it, we continue to favor suppliers with large secular growth or self-help drivers (APTV, ALV, VC, MBLY) but remain cautious on traditional OEMs and cyclical suppliers. We continue to see some downside risk to TSLA 3Q earnings, and considerably more so to 2024 estimates."
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Shares of Tesla closed at $254.85 yesterday.