Tesla’s share price (TSLA) is putting pressure on people who are trying to find out if it can reach its delivery goal with just a few days left in the quarter.
An analyst is raising expectations.
As we have reported in recent weeks, Tesla plans to deliver a record number of vehicles this quarter to reach 500,000 deliveries in 2020 – a long-standing goal for the automaker.
To reach the milestone, Tesla is expected to deliver more than 181,000 vehicles this quarter. That’s more than 40,000 vehicles compared to the latest quarterly delivery record, which was just achieved last quarter.
In a new note to customers on Wednesday, Wedbush analyst Dan Ives said he sees Tesla delivering between 190,000 to 200,000 vehicles in the fourth quarter:
“Based on our initial analysis of Tesla’s demand and global delivery trajectory in 4Q, it looks like Musk & Co. is likely to exceed Street and internal expectations.”
This is certainly raising expectations, as many still have doubts about Tesla, even reaching its target of ~ 181,000 vehicles.
Last weekend, we reported in an email that Tesla CEO Elon Musk sent to employees, in which he wrote that Tesla could still reach the 500,000 car mark in 2020, but they will need to “give it all” with only a few days left in the year.
Looking ahead, Ives is optimistic about Tesla’s business in China:
“We believe that this dynamic demand will disproportionately benefit the clear leader of the EV category, Tesla, in the coming years, especially in the main region of China, which we believe could represent around 40% of its EV deliveries by 2022, given the pace current accelerated sales. ”
The analyst believes Tesla could go from 500,000 vehicles delivered in 2020 to 1 million global deliveries by 2022.
Wedbush has a target price of $ 715 at Tesla – one of the highest on Wall Street.
Tesla shares are trading 2% higher today, at around $ 680 per share – just shy of its highest record of $ 695 per 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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