Connect with us

Hi, what are you looking for?


Tesla Gains On Record Quarterly Deliveries, Analyst Upgrade

Stock Markets45 minutes ago (Apr 05, 2021 09:25AM ET)

(C) Reuters

By Dhirendra Tripathi – Tesla (NASDAQ:TSLA) shares jumped 6% Monday following its announcement of record deliveries in the March quarter.

The company Friday said it delivered 184,800 vehicles and produced 180,338 cars in the first quarter of 2021, topping the 180,570 deliveries of last year’s fourth quarter and also estimates of 177,822 vehicles, according to Refinitiv data.

The record deliveries prompted analysts to upgrade the stock.

“We now believe Tesla could exceed 850k deliveries for the year with 900k a stretch goal, despite the chip shortage and various supply chain issues lingering across the auto sector. . .we believe the tide is turning on the Street and the eye popping delivery numbers coming out of China cannot be ignored..,” Wedbush Securities analyst Dan Ives wrote in a note. He put a $1000 target on the stock.

Wedbush’s target is 51% higher than the stock’s Thursday closing price. Friday was a market holiday in the United States.

Tesla’s robust performance is noteworthy given that the quarter has been a rough one for the industry still trying to come out of the effect of the pandemic.

The electric vehicle maker faces several challenges, starting from a shortage of chips that go into its cars to a reduction of subsidies in the U.K. and the anti-American sentiment in China, its biggest market.

Tesla Gains On Record Quarterly Deliveries, Analyst Upgrade

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt.


Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione.


Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum.


At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores.

Disclaimer: it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Buzz Clever. All Rights Reserved