Written by Cláudio Afonso | LinkedIn | X
Wedbush analyst Daniel Ives reiterated on Wednesday the firm’s $300 price target on Tesla shares after the company reported delivery of nearly 470,000 vehicles between July and September.
The analyst, who has an Outperform rating on Tesla stock, said he continues to “believe AI/ FSD [Full Self Driving] represents a $1 trillion of value alone for Tesla over the coming years”.
As Tesla prepares to host one of the most important product launch events of its history on October 10, Ives noted that “it’s time for Musk to have a watershed unveiling event for Robotaxi Day which we will be attending live in LA to kick this AI era off at Tesla.”
The company is set to report its third-quarter earnings on October 23, with a conference call scheduled for 5:30 PM Eastern Time.
The Wedbush analyst expects the call to provide more details on production and delivery results, as well as guidance for the final quarter of the year.
“We look forward to hearing more details on 3Q/guidance when the company reports on October 23 after the bell,” Ives wrote.
As of the time of writing, Tesla shares are trading 3.20 percent lower at $249 per share.
Earlier today, also Barclays analyst Dan Levy commented on the results saying shareholders “were likely expecting a more robust beat, potentially pressuring stock” while saying the production figures are “just above consensus” of about 466,000 units.
Written by Cláudio Afonso | LinkedIn | X
