Sign In  |  Register  |  About Corte Madera  |  Contact Us

Corte Madera, CA
September 01, 2020 10:27am
7-Day Forecast | Traffic
  • Search Hotels in Corte Madera

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Tesla shares rise on delivery forecast

Tesla will report their latest quarterly deliveries on Sunday. Barclays Senior Autos Analyst Dan Levy expects the electric vehicle maker to exceed the 420,000-unit consensus forecast.

Tesla is forecast to beat analyst predictions when the electric vehicle maker and clean energy company reports first quarter deliveries on Sunday. 

Barclays Senior Autos Analyst Dan Levy told Yahoo Finance on Monday he expects Tesla to reach 425,000 units of volume ahead of the 420,000-unit consensus. The company missed analysts' estimates in January due to logistical issues and slowing demand. 

In January, Tesla delivered 405,278 vehicles in the fourth quarter ending Dec. 31, 2022, short of analysts' estimates of 431,117, according to Refinitiv. For all of 2022, company deliveries rose by 40%, missing Musk's 50% annual target.

In an interview with FOX Business, David Russell, VP of Market Intelligence at TradeStation, said "Deliveries are a key metric for Tesla because their investment thesis is focused on growth."

TESLA STOCK NOW BLUE-CHIP AFTER CREDIT UPGRADE

"Investors want to see ramping production, which they expect to lead to economies of scale and better profitability," he added. "There have also been indications of strong demand in China and Europe, so next week's delivery report could be more important than others."

Tesla is up more than 70% year-to-date but down about 50% over a one year period.

TESLA INVESTOR DAY COMES WITH STOCK REBOUNDING, CEO MUSK TWEETS MASTER PLAN WILL BE UNVEILED

At Tesla’s first annual investor day in early March, the company said it had produced four million vehicles since opening. Market estimates before the upcoming report saw Tesla hit roughly 3.725 million vehicles made, implying around 275,000 produced through the first two months of the quarter, according to a Barclay’s report cited in media reports.

GET FOX BUSINESS ON THE GO BY CLICKING HERE 

Reuters contributed to this report.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 CorteMadera.com & California Media Partners, LLC. All rights reserved.