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Tesla (TSLA) gets stock price boost on strong delivery expectations


#Tesla’s stock price (TSLA) is pushing higher on people trying to figure out if it can hit its delivery target with only a few days left in the quarter.

#One analyst is raising the expectations.

#As we have been reporting over the last few weeks, #Tesla aims to deliver a record number of vehicles this quarter to achieve 500,000 deliveries in 2020 — a long-time goal for the automaker.

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#In order to achieve the milestone, #Tesla must deliver over 181,000 vehicles this quarter. #That’s more than 40,000 vehicles over its last quarterly delivery record, which was just achieved last quarter.

#In a new note to clients on #Wednesday, #Wedbush analyst #Dan #Ives said he sees #Tesla delivering between 190,000 to 200,000 vehicles in Q4:

“Based on our initial analysis of demand and the delivery trajectory globally for #Tesla in 4Q, it appears #Musk & #Co. will likely handily exceed #Street and internal expectations.”

#This is certainly raising expectations higher as many still have doubts about #Tesla even achieving its goal of ~181,000 vehicles.

#Last weekend, we reported on an email #Tesla CEO #Elon #Musk sent to employees in which he wrote that #Tesla can still achieve the milestone of 500,000 cars in 2020, but they will need to “go all out” with only a few days left in the year.

#Looking into the next few years, #Ives is positive on #Tesla’s business in #China:

“We believe this demand dynamic will disproportionately benefit the clear EV category leader #Tesla over the next few years especially in the key #China region which we believe could represent ~40% of its EV deliveries by 2022 given the current brisk pace of sales.”

The analyst believes that #Tesla could go from 500,000 vehicles delivered in 2020 to 1 million global deliveries by 2022.

#Wedbush has a $715 price target on #Tesla — one of the highest on #Wall #Street.

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#Tesla’s stock is trading 2% higher today at around $680 a share — just shy of its all-time high of $695 per share.

#How many cars do you think #Tesla will deliver in Q4 2020? #Let us know in the comment section below.

FTC: #We use income earning auto affiliate links. #More.


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[ source link ]
https://electrek.co/2020/12/30/tesla-tsla-stock-price-boost-strong-delivery-expectations/

##Tesla #TSLA #stock #price #boost #strong #delivery #expectations

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