Accueil > Actualité
Actualite financiere : Actualite bourse

Tesla: shares jump as deliveries exceed consensus

(CercleFinance.com) - Tesla shares jumped 9% on Friday after the Californian electric car maker delivered more vehicles than expected in the first quarter.


The Palo-Alto company delivered 88,400 vehicles in the first three months of the year, its best ever first quarter performance, beating the consensus of about 79,000.

"Model 3 & Y accounted for 76,200, which handily beat the Street's
expectation of 68,674," Wedbush analysts wrote in a note today.

As a reminder, Model Y production started in January with deliveries beginning in March, significantly ahead of schedule.

In a bleak environment that is tainted by the Covid-19 outbreak, these delivery numbers come as a sigh of relief for the bulls, Wedbush added.

"While cash burn will be heightened in the near term due to this anomalous global situation, we believe the longer-term trends remain very healthy," the broker said.

Analysts at Canaccord Genuity seemed to agree.

"We view these results as a clear indication that EV demand had remained strong for Tesla well into the quarter, and that the company is well positioned to satisfy that renewed demand once the Covid-19 pandemic abates," the Canadian broker noted.

Copyright (c) 2020 CercleFinance.com. All rights reserved.
 

societes

marches

tendances

 
Qui sommes-nous ? | Nous contacter | FAQ | Mentions légales | RSS | © Copyright 2007 Cercle Finance. Tous droits réservés.
Indices et cours différés d’au moins 15 mn | Cotations boursières fournies par ABC Bourse.