Tesla’s share price (TSLA) is putting more pressure on people trying to figure out if it can reach its delivery target with just a few days left in the quarter.
One analyst raises expectations.
As we have reported over the past few weeks, Tesla aims to deliver a record number of vehicles this quarter to achieve 500,000 deliveries by 2020 – a long-term goal for the carmaker.
To reach the milestone, Tesla must deliver more than 181,000 vehicles this quarter. That is more than 40,000 vehicles above the last quarterly delivery record, which was achieved just last quarter.
In a new note to customers Wednesday, Wedbush analyst Dan Ives said he sees Tesla delivering between 190,000 and 200,000 vehicles in the fourth quarter:
“Based on our initial analysis of demand and the delivery trajectory for Tesla in 4Q worldwide, it appears that Musk & Co. is likely to exceed Street and internal expectations.”
This certainly raises expectations, as many still doubt that Tesla will even reach its goal of ~ 181,000 vehicles.
Last weekend we reported on an email that Tesla CEO Eles Musk sent to employees in which he wrote that Tesla could still reach the milestone of 500,000 cars in 2020, but they would have to ‘do everything’ with only a few days a year.
With a view to the next few years, Ives is positive about Tesla’s business in China:
“We believe that these demand dynamics will outweigh the clear EV category leader Tesla over the next few years, especially in the key China region, which we believe could represent ~ 20% of its EV deliveries by 2022, given the current rapid rate of sales. “
The analyst believes that by 2022, Tesla could go from 1 million of 500,000 vehicles delivered in 2020 to 1 million world deliveries.
Wedbush has a price target of $ 715 on Tesla – one of the highest on Wall Street.
Tesla’s share is trading 2% higher today at around $ 680 per share – just shy of its everyday high of $ 695 per share.
How many cars do you think Tesla will deliver in Q4 2020? Let us know in the comments below.
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