Summary
- RBC analyst Tom Narayan predicts Tesla will surpass Q3 delivery estimates
- RBC has a $224 price target and BUY rating for Tesla
- Tesla expected to deliver 460,000 units in Q3, above Wall Street consensus of 449,232 units
- Tesla seen as a safe investment amid declining global auto market
- Recent profit warnings from legacy automakers highlight Tesla’s relative safety for investors
Article
RBC analyst Tom Narayan has predicted that Tesla will surpass Wall Street’s expectations for Q3 delivery results. With a price target of $224 and a BUY rating for Tesla, the firm forecasts that the electric car maker will report delivering a total of 460,000 units, including 432,700 Model 3 and Model Y units and 27,300 Model S and Model X vehicles. This figure is higher than the Wall Street consensus of 449,232 deliveries for the quarter.
Speaking in a recent interview, the RBC analysts emphasized that Tesla is viewed as a safe haven for investors amidst the current declines in the global auto market. Narayan pointed out that even top legacy automakers like Stellantis are facing challenges, with several European automakers issuing profit warnings in recent weeks. Tesla, on the other hand, is perceived as a more stable investment option compared to the rest of the industry.
Narayan highlighted the relative performance of Tesla compared to other automakers as a key factor in RBC’s positive outlook on the company’s Q3 delivery results. With the auto industry experiencing setbacks, investors are looking for safer options, and Tesla seems to provide that level of stability. The analyst pointed to Tesla’s strength in the face of industry challenges, particularly in contrast to the struggles seen among traditional automakers.
The RBC analyst’s comments underscore Tesla’s resilience and appeal to investors as a safe bet in a volatile market. Despite the overall decline in the auto industry, particularly among legacy automakers, Tesla stands out as a beacon of stability and growth potential. This positive outlook is reflected in RBC’s forecast of Tesla surpassing Wall Street’s estimates for Q3 deliveries, further solidifying the company’s position as a strong investment choice in the current economic climate.
In conclusion, RBC analyst Tom Narayan’s prediction of Tesla beating Wall Street’s Q3 delivery estimates reflects the company’s resilience and attractiveness to investors seeking safety in a challenging market. With a price target of $224 and a BUY rating for Tesla, RBC anticipates the electric car maker delivering 460,000 units in the third quarter, surpassing the Wall Street consensus. Tesla’s strength in the face of industry challenges cements its position as a safe haven for investors amidst the uncertainties in the global auto market.
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