Tesla Motors Analyst Daniel Ives Increases Unit Estimates

Alex Cho

Alex Cho

CEO l Research Director

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Jason Chen

Jason Chen

COO l Research Editor

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Shakeel Stewart

Shakeel Stewart

Columnist and Author

4 Key Takeaways from Tesla Motors Analyst Report

Wedbush Analyst Daniel Ives mentions in the research note, “While the stocks and the EV space are clearly going through a painful digestion period, we view this as a short-term pullback in a multi-year upward rally. We forecast the EV market represents a $5 trillion TAM over the next decade with many EV OEMs/supply chain players poised to be major winners over the coming years.”

Wedbush Analyst Daniel Ives goes onto discuss street expectations, “Despite the chip shortage and some bumps in the road during the quarter, we believe Tesla should exceed the Street’s 170k line in the sand for 1Q and help restore some positive momentum back to Tesla and the EV sector. We maintain our $950 price target and NEUTRAL rating.When pertaining to next quarter estimates Daniel Ives references delivery figure expectations.“

Wedbush Analyst Daniel Ives annual delivery/revenue estimates, “We are now modeling FY21 total unit annual deliveries to be 830K units vs. our prior number of 774K units. We note that our 3Q/4Q21 total unit delivery estimates have marginally increased and the majority of our model changes are reflected in 1H21 as we had originally modeled a more cautious scenario for 1Q/2Q21 based on the pace of the global re-opening as well as the chip shortage dynamic, which remains an overhang on the broader auto sector. We now expect FY21 total automotive delivery revenue to be $42.7 billion vs our prior estimate of $39.7 billion.”

Wedbush Analyst Daniel Ives on international sales, “Tesla saw strength in China and the US with EV consumer demand patterns that continued to improve discernibly since the beginning of January with strength seen for Tesla in the months of February and March particularly in China. In China after a rocky start in the month of January we believe Tesla was the benefit of share shifts vs. domestic players and thus puts the company now on a trajectory to handily exceed 800k units for the year.”

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