Tesla Analyst Asks 'Do Earnings Matter?' Ahead Of Q2 Report: Robotaxis, China, EV Guidance In Focus
Portfolio Pulse from Chris Katje
Guggenheim analyst Ronald Jewsikow reiterated a Sell rating on Tesla (NASDAQ:TSLA) with a $134 price target ahead of its Q2 earnings report. Investors are more focused on future developments, including the delayed robotaxi event, 2024 volume guidance, and market share in China. Jewsikow expects Tesla to beat EPS estimates but miss on automotive gross margins due to discounting actions.
July 23, 2024 | 3:22 pm
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Guggenheim analyst Ronald Jewsikow reiterated a Sell rating on Tesla with a $134 price target ahead of its Q2 earnings report. Key focus areas include the delayed robotaxi event, 2024 volume guidance, and market share in China. Jewsikow expects Tesla to beat EPS estimates but miss on automotive gross margins due to discounting actions.
The reiterated Sell rating and $134 price target suggest a bearish outlook. The delay in the robotaxi event and concerns about 2024 volume guidance and market share in China add to the negative sentiment. While an EPS beat is expected, missing on automotive gross margins due to discounting actions could further pressure the stock.
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