Market Overview

Tesla Displayed 'Phenomenal Execution' On All Fronts

Tesla Displayed 'Phenomenal Execution' On All Fronts
Related TSLA
Musk Says He'll Take You From NY To DC In A Half-Hour: How Traditional Travel Compares
The Feds Hop In The Driver's Seat Of Autonomous Vehicle Regulation
Stocks Quietly Higher, Home Depot Hampers Dow; This Apparel Stock Breaks Out (Investor's Business Daily)

According to Trip Chowdhry of Global Equities Research, Tesla Motors Inc (NASDAQ: TSLA) reported a "blow-out" figure when it announced its Q3 deliveries.

Tesla said it delivered 24,500 vehicles in the quarter, which proved to be "way ahead" of Chowdhry's "most optimistic estimate" of 22,000 deliveries, marking a "phenomenal execution on all fronts." The analyst noted that the Q3 delivery figure is "significantly" higher by 111 percent year-over-year and serves as further justification for his Overweight rating on the stock with $385 price target.

Chowdhry noted Tesla indicated it has 5,500 vehicles in transit to customers, which exceeds its prior record high of 5,150 vehicles in transit.

Related Link: Tesla Beats Delivery Estimates, Baird Reiterates $338 Price Target

Meanwhile, Tesla's production ramp to 25,158 vehicles is "solid" and "clearly" indicates the company has reached its weekly production target of 2,200 auto units per week and on track to achieve or meet its fourth quarter target of 2,400 auto units per week.

Finally, Chowdhry noted that Tesla is the only company in history to grow more than 70 percent on a revenue base of $8 billion. In fact, even, Inc. (NASDAQ: AMZN)'s powerhouse unit AWS failed to achieve this accomplishment.

Shares of Tesla were trading higher by nearly 4 percent at $204.03 before Monday's opening bell.

Latest Ratings for TSLA

Jul 2017CitigroupInitiates Coverage OnNeutral
May 2017Independent ResearchInitiates Coverage OnHold
May 2017Morgan StanleyDowngradesOverweightEqual-Weight

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

Posted-In: Global Equities Research Tesla Tesla Deliveries Tesla Guidance Tesla Production Trip ChowdhryAnalyst Color Analyst Ratings Best of Benzinga


Related Articles (AMZN + TSLA)

View Comments and Join the Discussion!