Tesla deliveries set to fall for second straight quarter
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Truist on Tesla (TSLA): 'we believe lower production may be related to retooling for new model introductions, and will help reduce inventory'
July 2, 2024 1:00 PM EDTTruist Securities analyst William Stein reiterated a Hold rating and $162.00 price target on Tesla (NASDAQ: TSLA)
The analyst comments " 2Q24 deliveries are slightly above consensus; we expect reduced production to help normalize inventory levels. Earlier today, TSLA announced Q2 unit deliveries were 444k in the quarter (down 5% y/y), 1.7%... More
Morgan Stanley on Tesla (TSLA): '1st Positive Surprise of the Year'
July 2, 2024 11:16 AM EDTMorgan Stanley analyst Adam Jonas reiterated an Overweight rating and $310.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "Tesla started its Independence Day celebration early with a positive 2Q delivery beat, 33k lower inventory and a large storage beat to remind investors it's not just an auto company. 1. Deliveries beat, but... 2Q deliveries came to 443,956 units vs. MS at 427,303 and cons at 437,812. While this is one of the first and only positive auto surprises of the year for Tesla, we still believe matching last years delivery number would... More
RBC Capital Out Positive on Tesla (TSLA), 'Energy Storage a Positive Surprise'
July 2, 2024 11:12 AM EDTRBC Capital analyst Tom Narayan reiterated an Outperform rating and $227.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "What do we think? As we thought might happen, June deliveries in the US likely improved vs April's 47K, and May's 52K. We suspect they were closer to 70K, consistent with app download data. We conservatively assumed a 55K June level. We expect Europe was 36K in June, up from 14k/19k in April/May, consistent with App download data, and with our estimate. China, meanwhile, came in at 71K in June... More
Goldman Sachs Out Mixed on Tesla (TSLA)
July 2, 2024 10:20 AM EDTGoldman Sachs analyst Mark Delaney reiterated a Neutral rating and $175.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "Tesla reported preliminary 2Q24 vehicle deliveries of about 444k (up 15% qoq and down 5% yoy), and production of about 411k vehicles (down 14% yoy). This compares to 1Q24 deliveries of about 387K and... More
Citi Reiterates Neutral Rating on Tesla (TSLA), 'Quick Take on Q2 Deliveries & Production'
July 2, 2024 10:13 AM EDTCiti analyst Itay Michaeli reiterated a Neutral rating and $182.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "Tesla reported Q2 deliveries of 444.0k (-5% YoY, +15% QoQ), 1.4% above the 437.8k consensus, which was generally viewed as aggressive. In addition to the delivery... More
Tesla (TSLA) added to Wells Fargo's Q3 tactical ideas list
July 1, 2024 7:16 AM EDTWells Fargo added Tesla (NASDAQ: TSLA) to its Q3 Tactical Ideas List but maintained an Underweight rating on the stock in a note Monday.
The bank's analysts warn of "declining delivery growth driven by lower demand & diminished return on price cuts." They estimate a 14% year-over-year decline in deliveries for 2024, falling short of... More
