Why This Tesla Analyst Is Shooting For Below-Consensus Q2 Deliveries
Portfolio Pulse from Shanthi Rexaline
RBC Capital Markets analyst Tom Narayan predicts Tesla's Q2 deliveries to be below consensus estimates, at 438,000 units, a 72% YoY increase and a 4% sequential estimate. This is compared to the consensus estimate of 446,823 units. Despite this, Narayan maintains an Outperform rating and a $305 price target for Tesla stock, and believes the company is on track to achieve its 1.8 million-unit sales target for 2023.
June 30, 2023 | 8:01 pm
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Tesla's Q2 deliveries are expected to be below consensus estimates, but the company is believed to be on track for its 2023 sales target.
The news of lower than expected Q2 deliveries could potentially have a negative impact on Tesla's stock price in the short term. However, the analyst's positive outlook for the company's future performance and the maintained Outperform rating and price target could offset this negative impact.
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IMPORTANCE 80
RELEVANCE 100