Tesla (NASDAQ: TSLA) has a consistently high production and delivery rate that has led many Wall Street analysts to believe the company will be able to meet its 2020 production and delivery targets.
Deutsche Bank analysts say 500,000 delivery target is ‘within reach.' They speculate that an email leak from Elon Musk, who was urging workers to go all out to make and deliver cars to complete the year by meeting the company's target, indicates Tesla will be able deliver on the 500,000 unit goal in 2020.
"Although Musk did not quantify the delivery progress so far in the quarter, the latest leaked email would indicate that the company is within reach of achieving its goal with just a few days remaining in the year."
Cowen analyst Jeffrey Osborne raised the firm's target price for Tesla shares from $300 to $380, indicating that the company will be able to deliver more than 181,000 vehicles in Q4, enough to meet its 500,000 unit delivery target.
He believes Tesla is likely to “confidently close” deliveries in the Q4. The data the firm analyzed show that the company's deliveries have accelerated this month, so Osborne predicts total deliveries for this quarter will be 181,500 vehicles, up 16% from his previous estimate of 156,500 vehicles.
Earlier, Global Equities Research analyst Trip Chowdhry, after checking Tesla's factory, also said that the company is doing an excellent job of manufacturing cars. Chowdhry stressed that he is 100% sure that Q4 will be a "blockbuster" for the company.
Despite the fact that the inspection took place the day after Christmas, the factory was operating as usual, and the activity of employees on Saturday was "extremely solid." This is an excellent indicator that Tesla is not slowing down, and strives to achieve the set production goal of 500,000 vehicles by the end of the year.
GLJ Research analyst Gordon Johnson said they now expect Tesla to post Q4 deliveries of 183,500. He wrote that the demand for the company's vehicles is in line with the supply, which will lead to the achievement of delivery targets for 2020.
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About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
