Tesla analysts up and down Wall Street are painting and ugly picture as the focus turns to all-important delivery numbers (TSLA)

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• Tesla shareholders and analysts are gearing up for the electric automaker's second-quarter delivery figures, which are expected in the coming days
• The results, which follow last quarter's poor numbers , arrive at a unique moment for the automaker; Analysts that prominent Wall Street have been exposed to investors in recent days that while delivery figures will likely meet or exceed expectations, the earnings outlook still looks ugly.
• "We raise our delivery estimate to ~ 85k vehicles from ~ 75k, but still forecast ongoing losses," Barclays analyst Brian Johnson wrote a recent report.
• Track Tesla shares here in real time.

Tesla may release second-quarter delivery figures in the coming week that says Wall Street's expectations. But the automaker's future profitability and questionable underlying demand remain fundamental wildcards.

That's what a share of equity analysts at investment giants from Goldman Sachs to Barclays have conveyed to investors in recent days as Tesla is expected to release quarterly delivery figures in early July. .

"While we believe 2Q1[ads1]9 should be found – and the company likely achieves volumes near FactSet consensus – we do believe 2H19 (and beyond) volume estimates look high considering there are fewer demands to pull to demand demand forward," the Goldman analyst David Tamberrino, who rates Tesla a "sell," wrote in a note June 20 note

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As many of his equity analyst peers have done this year amid the stock's months-long decline, Tamberrino cut his target on the stock for the fourth time this year to $ 158 from $ 200. He expects the second quarter was a "better environment" for deliveries, but to an unsustainable degree.

Tamberrino added: "We believe that is the largest question for investors to underwrite this point – what are sustainable demand levels for the Model S, Model X, and Model 3 – and how does it change with the introduction of Model Y production. "

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Tesla CEO Elon Musk, as well as bullish equity analysts covering the stock, have sought to put concerns over underlying demand to rest.

In an email to employees last Tuesday, Musk said Tesla was close to setting a record for the number of vehicles delivered in one quarter, Business Insider's Graham Rapier and Mark Matousek reported.

"I think we expect demand to – we are seeing demand return to normal in Q2, "Musk said on the company's April earnings call in response to an analyst's question. "And it might be a little better than normal. It's – I don't have a crystal ball, so it's hard for me to say, but my impression right now is demand is quite solid, quite strong, yes." ] Now read more Tesla coverage from Markets Insider and Business Insider:

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