Jefferies Analyst Philippe Houchois reiterated a Buy rating and $1,400 price target on TESLA following strong delivery numbers.

Jefferies analyst Philippe Houchois reiterated a Buy rating and $1,400 Price Target on Tesla following strong delivery numbers. The analyst commented, “Tesla ended 2021 on a high, with deliveries of 308,600 vehicles in Q4, up 28%/71% vs Q3/year ago and beating consensus/JEFe by 16%/12%. Q4 took FY deliveries to 936k, +87% YoY.

Advertisements

With only 11.750 units delivered and 13,109 produced, S/X remained light due to capacity constraints. However, Models 3/Y over-compensated +134% yoy and annualizing Q4 production yields active capacity of 1.17m, o/w an estimated 650k in Shanghai.

Advertisements


Deliveries exceeded production for the second quarter running, supporting FY FCF. The volume beat supports upgrades to 2021 EBIT consensus $5.9bn (JEFe $6.4bn) and to 2022E volume consensus of 1.3-1.4 million units even factoring a slow ramp up in Berlin and Austin.”

The manufacturer delivered just shy of 309,000 new vehicles between October and November, about 43,000 more than Wall Street analysts had predicted.

Advertisements

Tesla produced about 30% more cars than it did in the preceding quarter, between July and September, which had been the company’s best on record. It was also 71% more than in the same period of 2020.

Tesla shares are trading +10 higher this early morning following above expectations results and many Price Target upgrades from the Analysts.

Latest News

Tesla: Expansion plans of GigaBerlin delayed, report

Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter The vote for the expansion of Tesla‘s Gigactory in Germany by 100 hectares has been delayed, the mayor of the Grünheide region Arne Christiani told the local media RBB. Christiani […]

Volvo to present its electrification plan on September 21, SUV arrives in Q4 2022

Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter Swedish automaker Volvo will announce its plans for the electrification in the upcoming years on September 21 at 3pm CEST via Youtube starting the countdown for the launch of the new fully electric SUV in […]

Mobileye starts testing Level 4 Autonomous Driving in Detroit with over 50 NIO ES8s

Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter The Autonomous Driving company Mobileye announced on Thursday that started testing its program of the Level 4 Self-Driving solution in Detroit with over 50 NIO ES8s. The company added that the model will form the […]

Rivian announces JV with Mercedes-Benz to produce electric vans in Europe

Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter The EV maker Rivian Automotive announced on Thursday a partnership with Mercedes-Benz to invest in a factory in Europe aiming to produce electric vans. The companies will leverage shared investments, shared costs and will pursue […]

Loading…

Something went wrong. Please refresh the page and/or try again.