Tesla (TSLA) gets stock price rise on strong delivery expectations
Tesla’s share price (TSLA) is placing more emphasis on those trying to figure out if it can hit its delivery target with just a few days left in the quarter.
An analyst is raising expectations.
As we have been reporting for the past few weeks, Tesla aims to achieve 500,000 deliveries by 2020 with a record number of vehicles this quarter – a long-term goal for the automaker.
To achieve the milestone, Tesla will have to deliver more than 181,000 vehicles this quarter. This is more than 40,000 vehicles over its previous quarterly delivery record, which was obtained only in the previous quarter.
In a new note to customers on Wednesday, Vulbush analyst Dan Ives said it distributed Tesla between 190,000 and 200,000 vehicles in Q4:
“Based on a preliminary analysis of our demand and the distribution trajectory globally for Tesla in 4Q, it appears that Musk & Co will likely exceed road and internal expectations.”
This is certainly raising expectations higher as many are still skeptical about Tesla, even achieving its target of ~ 181,000 vehicles.
Last weekend, we reported on an email sent by Tesla CEO Elon Musk to employees in which he Wrote that Tesla could still achieve 500,000 car milestones in 2020, but would need to “go all out” There are only a few days left in the year.
Looking at the next few years, Ives is positive on Tesla’s business in China:
“We believe this demand will clearly benefit the dynamic EV category leader Tesla over the next few years, particularly in the major China region which we believe is the current fastest pace of sales of ~ 40% of EV delivery by 2022 Can reflect. “
The analyst believes that Tesla could go from 500,000 vehicles delivered in 2020 to 1 million global deliveries by 2022.
Vesush has a $ 715 price target on Tesla – one of the highest on Wall Street.
Tesla’s stock is trading 2% higher today at $ 680 per share – its all-time high of $ 695 per share.
How many cars do you think Tesla will deliver in Q4 2020? Let us know in the comment section below.
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