Tesla Will Meet Q1 Delivery Guidance, Says Analyst After Visiting Factory

Tesla Motors Inc TSLA shares are up 2 percent on Monday, nearing the $240 mark. In a new note to investors, Global Equities Research analyst Trip Chowdhry said his team continues to perform routine checks around Tesla's operations.

After his latest analysis, Chowdhry said Tesla "should be able to meet the 1Q'2016 delivery guidance of 16,000 Units." Chowdhry added that a new "giga tent" is being installed at the factory delivery center, where he expects Model X and Model S units to be delivered to customers.

The analyst reiterated his $385 target on Tesla, based on a FY2016 revenue multiple of 6.5x on $8.8 billion. He also reiterated his projection that Tesla will deliver 83,500 units this year, between the company's official guidance of 80,000 to 90,000.

Model X Photos

Chowdhry, lastly, shared two photos of Model Xs he was able to capture.

Of note, there remains a considerable shortfall between analyst consensus expectations of 2020 deliveries versus company guidance, as explained by Morgan Stanley's Adam Jonas earlier this year. A meeting of 2016 expectations is one way to shore up investor fears that Tesla may ultimately disappoint what the bulls are expecting.

Tesla shares remain in the green on Monday morning.