Here's what 4 analysts are saying about Tesla after record delivery numbers sent shares climbing
- Tesla reported record fourth quarter 2019 vehicle delivery numbers Friday that brought full-year deliveries above the low end of the company's guidance and topped Wall Street expectations.
- Shares of the company surged as much as 5.5% Friday to new intraday highs.
- Here's what four analysts had to say about Tesla after the record report.
- Watch Tesla trade live on Markets Insider.
Tesla reported record fourth quarter and full-year 2019 vehicle delivery numbers on Friday, topping Wall Street estimates and beating the low-end of the company's own guidance.Shares of the company opened at a fresh high and surged as much as 5.5% Friday after the news revived investor confidence that Tesla has returned to profitability. Advertisement
"We view these results as a clear indication that EV demand remains strong for Tesla and that the company is well positioned for 2020 with continued positive momentum in all business areas," Jed Dorsheimer, an analyst at Canaccord Genuity, wrote in a note Friday.
Dorsheimer raised his Tesla price target to $515 ahead of the report and reiterated his "buy" rating, implying the stock would surge more than 20% in 2020. It's now the highest Tesla rating from a major brokerage.Even an analyst who doesn't recommend buying Tesla was impressed. Daniel Ives of Wedbush, who has a neutral rating on stock and a price target that implies nearly 14% downside from where shares closed Thursday, called the results "another major feather in the cap for Musk & Co." in a Friday report.
Overall, Wall Street analysts have a consensus price target of $303.86 and 11 "buy" ratings, 10 "hold" ratings, and 15 "sell" ratings on shares of Tesla, according to Bloomberg data.Here's what four analysts had to say about Tesla after the solid vehicle delivery report Friday. Advertisement