Tesla Tops Q2 Delivery Expectations, But Analysts Say Near-Term Direction Of Stock Hinges On Data Due Later This Month
Portfolio Pulse from Adam Eckert
Tesla Inc. (TSLA) shares are rising following strong Q2 delivery numbers, with the company producing 479,700 vehicles and delivering 466,140 vehicles, an increase of over 83% YoY. Goldman Sachs analyst Mark Delaney maintained a Neutral rating on Tesla and increased the 12-month price target from $248 to $275. However, analysts are awaiting margin and profitability data to fully understand the company's performance. Tesla will report Q2 financial results on July 19.
July 03, 2023 | 2:56 pm
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POSITIVE IMPACT
Tesla's strong Q2 delivery numbers have driven its shares up. However, the future direction of the stock depends on the upcoming Q2 financial results, including margin and profitability data.
Tesla's strong Q2 delivery numbers have positively impacted its stock price. However, the future direction of the stock will depend on the company's Q2 financial results, including margin and profitability data. If these figures are strong, the stock is likely to continue its upward trajectory. If not, the stock could potentially decline.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100