Tesla could see a 76% uptick in deliveries relative to a year before as the EV maker is expected to post the numbers over the weekend, according to an analyst’s updated projection.
Deutsche Bank’s Emmanuel Rosner just upped his delivery expectations to 448,000 from 438,000 for the second quarter, with his new projection implying 6% sequential growth and a 76% uptick in Tesla TSLA, -4.84% deliveries relative to a year before. His revised target was also slightly ahead of the 445,000 FactSet consensus.
Rosner’s updated delivery view reflected “sequential volume growth post the pricing actions the company has taken thus far this year, with China coming in particularly strong,” he wrote in a Monday note to clients, while reiterating a buy rating and lifting his price target on the shares to $260 from $230.
Rosner noted that his expected China momentum comes even as Tesla slightly brought up Model 3 and Model Y prices in May.Elsewhere, he flagged 43,600 European registrations from the start of the quarter through May, while “more than half of deliveries in Europe are typically delivered in the last month of the quarter.”
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