Tesla (TSLA) stock price is rising for people trying to see if it can reach its delivery target with only a few days remaining in the quarter.
One analyst raises expectations.
As we reported over the past few weeks, Tesla is aiming to deliver a record number of vehicles this quarter to achieve 500,000 deliveries in 2020 – a long-standing goal for the automaker.
In order to achieve the milestone, Tesla must deliver more than 181,000 vehicles this quarter. That’s over 40,000 cars compared to the most recent quarterly delivery record, which was just achieved in the last quarter.
In a new customer note on Wednesday, Wedbush analyst Dan Ives said he sees Tesla offering between 190,000 to 200,000 cars in the fourth quarter:
“Based on our preliminary analysis of demand and Tesla’s global delivery path in the fourth quarter, it appears Musk & Co will easily exceed street and internal expectations.”
This definitely raises expectations even higher as many still have doubts about Tesla achieving its target of 181,000 cars.
Last weekend, we reported an email that Tesla CEO Elon Musk sent to employees where he was He wrote that Tesla could still deliver 500,000 cars in 2020, but they would need to “make every effort” With only a few days left in the year.
Looking at the next few years, Ives is positive about Tesla’s business in China:
“We believe this demand dynamic will disproportionately benefit the leader in the electric vehicle category, Tesla, over the next few years, especially in the mainland China region, which we believe could account for around 40% of EV deliveries by 2022 given the rapid pace of current sales.”
The analyst believes that Tesla could go from 500,000 cars delivered in 2020 to 1 million global deliveries by 2022.
Wedbush is targeting $ 715 on Tesla – one of the highest on Wall Street.
Tesla stock today is trading 2% higher at around $ 680 a share – close to an all-time high of $ 695 a share.
How many cars do you think Tesla will deliver in the fourth quarter of 2020? Let us know in the comments section below.
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