Tesla Larger Than Expected Loss But Cuts Cap Ex, Reaffirms Delivery Guidance

#21377
Super Harley
Participant

RBC analyst Joseph Spak Maintained underperform rating on the stock and $190 price target

“We do not believe this is likely and model third-quarter deliveries -10% q/q, with the fourth-quarter back near second-quarter levels (total 2019 = ~339k),”

“As a result, we do not believe the next two quarters revenue will grow either from second-quarter levels or on a year-on-year basis. In fact, we don’t see revenue returning to near second-quarter levels until the third quarter of 2020. So growth is likely to be on hiatus and we don’t believe the valuation reflects this,”