Tesla Analyst Sees No Stock Sell-Off Even After Slashing Q3 Delivery Estimates, Bear Asks If This Is 'High-School Cheerleading?'
Portfolio Pulse from Shanthi Rexaline
Piper Sandler analyst Alexander Potter has cut his Q3 delivery estimates for Tesla from 515,000 units to 445,000 units, a 13.6% reduction, due to downtime in Tesla’s Giga Shanghai and Giga Austin plants. Despite this, Potter does not expect Tesla's stock to sell off if Q3 results miss expectations. He maintains his full-year estimates for Tesla and the $300 price target. However, GLJ Research’s Gordon Johnson criticized Potter's positive analysis, noting that Tesla's deliveries will likely decline for the fifth quarter in 28 quarters.
September 29, 2023 | 12:43 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Despite a reduction in Q3 delivery estimates for Tesla, Piper Sandler analyst does not expect a sell-off in Tesla's stock. However, GLJ Research criticizes this positive outlook.
The news directly pertains to Tesla and its stock performance. The differing views of analysts may create uncertainty among investors, potentially impacting the stock's short-term performance. However, the overall impact is neutral as the positive and negative views balance each other out.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100