Tesla Inc (NASDAQ: TSLA) shares plummeted 4.9% After Reporting third-quarter Deliveries
Tesla Inc (NASDAQ: TSLA) shares plummeted 4.9% in premarket trading on Thursday, after the news that the electric-car maker reported third-quarter deliveries, that were not up to mark and the disappointed investors with high expectations.
JMP Securities analyst Joe Osha followed by downgrading the Tesla Inc (NASDAQ: TSLA) to market perform from market outperform, and also trim his price target (previous $337). JMP Securities analyst Osha said that he doesn’t know any operational issues about the company that could have prevented the Tesla from delivering more vehicle, if demand were also there.
After downgrading the TSLA stock Osha wrote in a note to clients, that,
“To put it another way, [late-Wednesday’s] announcement was the first time since covering the stock that we found ourselves wondering whether demand growth for [Tesla’s] cars might be leveling off,”
An analyst Dan Ives at Wedbush reiterated his neutral rating with $220 price target on Tesla by saying that the delivery number was “impressive” but for “bulls it wanted more.”
An analyst Ben Kallo at Baird maintained his “outperform” rating on Tesla with $355 target, by saying that the full year volume guidance is also attainable as the focus shift to profitability.
The J.P. Morgan’s analyst Ryan Brinkman kept his “underweight” rating on TSLA with $200 price target intact, by saying that while the deliveries were “slightly higher” than he had expected the full year guidance looks bit “tough to meet.”