Tesla (TSLA) rose in the first trade after publishing its delivery results, which the market had for three days to grind.
A new bull is coming.
Last Friday, Tesla published the results of the delivery and production – confirming that it has delivered a record of over 184,000 cars.
This was significantly higher than most analysts expected, but we could not see the impact on Tesla shares as it was Good Friday and markets were closed.
Today, Tesla is opening up as much as 8% in market trade – adding $ 50 billion to the market capitalization of the electrician.
Wall Street, which apparently underestimated Tesla this quarter, is also absorbing the results today, and one of the best analysts sees the record deliveries as a critical moment.
Dan Ives, an analyst at Wedbush who is also one of the top-rated Wall Street analysts based on the TipRanks rankings, came up with a new note for customers, saying the wave is changing for Tesla shares:
“While Tesla̵7;s EV sector and shares have been under significant pressure so far this year, we believe the tide is turning in the streets and the number of eyes coming from China cannot be ignored.”
Shares of Tesla (TSLA) are performing poorly compared to some industry counterparts, which has been quite rare over the years.
Companies such as Volkswagen and GM have seen their shares rise this year due to their electrification plans, but supply numbers show that Tesla still dominates some important markets, such as China, as Ives mentioned.
In publishing the results, Tesla noted that they were “encouraged by the strong acceptance of the Model Y“In China. The carmaker is not breaking supplies by market, but China is expected to contribute a lot to Tesla ‘s record deliveries this quarter.
China is increasingly becoming a critical market for electric car manufacturers, and Tesla has dominated there with last year’s Model 3.
It could now do the same with the Model Y.
Delivery results for the first quarter of 2021 prompted Ives to increase its delivery forecast for Tesla this year to 850,000 to 900,000 vehicles:
“Supply numbers for the 1st quarter, published on Friday, changed paradigms and show that the continued global demand for Tesla’s Model 3 / Y is reaching its next stage of growth as part of the global green tidal wave. We now believe that Tesla can exceed 850,000 deliveries for the year with 900,000 stretched targets, despite the shortage of chips and the various problems in the supply chain that remain in the automotive sector. “
Wedbush holds a $ 1,000 price tag for Tesla shares, a healthy 30% increase.
But this forecast can be seen as conservative, as many people believe that Tesla can achieve over 1 million shipments in 2021.
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