Tesla's Record Q2 Deliveries Will Send 'Bears Into Hibernation,' Says Analyst: 2 Reasons For The Outperformance
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) has reported record deliveries for Q2, with 466,140 cars delivered in June, a 45.5% YoY increase. This outperformance has been attributed to strong demand and production efficiencies, following price cuts implemented in 2023. Wedbush analyst Daniel Ives maintains an Outperform rating and a $300 price target for Tesla stock. Ives expects Tesla's margin to bottom out over the next one to two quarters and then ramp back up in FY 2024.
July 02, 2023 | 6:45 pm
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Tesla's record Q2 deliveries and strong demand could positively impact its stock price. The company's margin is expected to bottom out over the next one to two quarters and then ramp back up in FY 2024.
The record Q2 deliveries indicate strong demand for Tesla's products, which could drive its stock price up. The expected improvement in margin in the coming quarters also suggests potential for increased profitability, which is likely to be viewed positively by investors.
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IMPORTANCE 90
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