Tesla: second-quarter deliveries beat consensus
(CercleFinance.com) - Tesla beat Wall Street estimates for vehicle deliveries in its second quarter, benefiting from stronger demand for its smaller Model 3 cars.
Tesla said it produced over 82,000 electric vehicles and delivered approximately 90,650 vehicles in the past quarter, including 80,050 Model 3/Y sedans and 10,600 Model S/X SUVs, 35% above expectations.
While its main factory in Fremont, California, was closed for much of the quarter, the company said it has "successfully" ramped production back to pre-Covid levels.
The shares jumped by over 7% on this news.
Separately, Wedbush Securities today raised its target price for the share from 1,000 dollars to 1,250 dollars, with a "bull case" now set at 2,000 dollars.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Tesla said it produced over 82,000 electric vehicles and delivered approximately 90,650 vehicles in the past quarter, including 80,050 Model 3/Y sedans and 10,600 Model S/X SUVs, 35% above expectations.
While its main factory in Fremont, California, was closed for much of the quarter, the company said it has "successfully" ramped production back to pre-Covid levels.
The shares jumped by over 7% on this news.
Separately, Wedbush Securities today raised its target price for the share from 1,000 dollars to 1,250 dollars, with a "bull case" now set at 2,000 dollars.
Copyright (c) 2020 CercleFinance.com. All rights reserved.