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Which Wall St analysts say




The Tesla share (NASDAQ: TSLA) rises on Wednesday at the heels of the release of the company's Q2 2019 delivery and production report. With deliveries and production far exceeding forecasts from Wall St, several analysts have weighed on the electric car manufacturer's record quarter, which saw Tesla producing a total of 87,048 cars, consisting of 14,517 model S and model X and 72,531 model 3; and delivered a total of 95,200 cars, consisting of 17,650 Model S and X and 77,550 Model 3.

Adam Jonas, analyst Adam Morgan Stanley, who quoted in May for a "worst case" $ 10 price target on TSLA shares, admitted that to Despite the number of leaked Elon Musk emails and reports pointing to a record quarter, Tesla's over 95,000 vehicle deliveries were unexpected. "We hadn't talked to any investors who expected deliveries to be so high. We expect the shares to squeeze and then fade on this news," Jonas wrote in a note. Nevertheless, the analyst continued to point out that continued concerns about "sustainable" demand and competition in regions such as China are likely to weigh down stocks.

"It is not clear how much of the timing that is due to underlying demand, more attractive pricing, sales bonuses or third quarter deductions after tax credit reduction. Take them to about 350,000 units in 201[ads1]9, only shy of the guidance of 360,000-400,000 units, "Jonas, currently holding an equilibrium rating of Tesla's share with a price target of $ 230 per share, listed.

Nomura analyst Christopher Eberle, who has a neutral rating and a $ 300 price for TSLA, also weighed on the car manufacturer's Q2 results. "Tesla noted that orders generated in the quarter exceeded deliveries, which means the company is entering 3Q19 with an increase in demand," he said. Eberle remained cautious and adjusted to his third-quarter delivery estimate by just 5% to 80,000 units. [19659002] Joseph Osha from JMP Securities, which maintains a Market Perform rating and a $ 347 pricing target on the electric car manufacturer, stated that he expects Tesla's cash balance to rise to $ 2.67 billion in the second quarter. quarters show that the company's lower-than-expected result in the first quarter was not an indicator of real demand in the US. "Overall, the message we hear is that Tesla's weak first quarter was not an indicator of real end demand in the US market. The combination of US demand and export volume seems sufficient to support an outlook of ~ 380,000 deliveries this year, and our outlook for the second half is unchanged, the analyst says.

Wedbush Securities analyst Daniel Ives, who has a neutral rating and a $ 230 prize on the Tesla share, noted that the company's strong Q2 delivery numbers were "a clear step in the right direction", which could help restore Elon's credibility. Musk's history. Ives was among the most vocal critics of Tesla after the quarter's results, at a time that called Q1's results "one of the best debacles we've ever seen." Ives also spotted Tesla to maintain his optimistic outlook for the rest of 2019, saying "Musk & Co., in an episode out of the Twilight Zone, acts as if demand and profitability are coming back to the Tesla story." Production and delivery report for Q2 2019, Ives expected the company to deliver 84,001 cars.

Goldman Sachs analyst David Tamberrino, one of TSLA's most renowned critics who currently has a sales classification and a $ 158 price on the electric car manufacturer, stood by his pessimistic views of the company. Tamberrino stated that "second quarter deliveries and order flow were helped by the release of Tesla's standard model 3 variant, right-handed model 3s and the upcoming winding up of US tax deposits." The Goldman Sachs analyst also expects a "sequential" demand for demand in the third quarter due to Tesla's decision to offer lower model 3 variants and a lease option, which he notes could have a negative impact on the car's gross margins and FCF generation. Interestingly, Tamberrino was expecting Tesla to deliver 91,124 cars in the second quarter (one of the tallest on Wall Street, which exceeds that of the Tesla bull and Baird analyst Ben Kallo), which is quite ironic in view of its constant pessimistic attitude towards the electric car manufacturer. Goldman Sach's investment bank is also among TSLA's prominent shareholders.

As written, the Tesla share trades +6.13 % at $ 238.31 per share.

Information: I do not have ownership of TSLA shares and have no plans to start any positions within 72 hours.



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