Tesla

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month target by $10 to $300, on a 2025 P/E of 48x, justified by long-term growth expectations. We drop our adjusted EPS estimates by $0.25 to $3.30 for 2023, by $0.50 to $4.75 for 2024, and by $0.95 to $6.25 for 2025. TSLA posted Q3 adjusted EPS of $0.66 vs. $1.05 (-37%), well below the $0.73 consensus. Revenue rose 9% to $23.35B ($790M below consensus) and gross margin contracted 720 bps to 17.9% (10 bps below consensus). Despite the miss, TSLA reiterated 2023 volume guidance of 1.8M units and said that while the Cybertruck is in pilot production, its annual installed Cybertruck production capacity is now in excess of 125K units, which we think should reassure investors concerned about the ramp-up of the highly-anticipated […]

Piper Sandler analyst Alexander Potter maintains Tesla (NASDAQ:TSLA) with a Overweight and lowers the price target from $300 to $290.

Wedbush analyst Daniel Ives reiterates Tesla (NASDAQ:TSLA) with a Outperform and maintains $350 price target.

Data released by the China Passenger Association on Monday showed that U.S. automaker Tesla (NASDAQ:TSLA) sold 84,100 Chinese-made electric vehicles in August, up 9.3% year-over-year. It is worth noting that Tesla’s domestic Model 3 and Model Y model sales increased by 30.9% from the previous month.

Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk announced Tesla is nearing completion of its Full Self-Driving (FSD) AI technology, Electrek reports. Musk took to X, earlier known as Twitter, to reveal that the firm is working on the vehicle control of the FSD AI technology, which he described as the “final piece of the Tesla FSD AI puzzle.” “Vehicle control is the final piece of the Tesla FSD AI puzzle. That will drop >300k lines of C++ control code by ~2 orders of magnitude. It is training as I write this. Our progress is currently training compute constrained, not engineer constrained,” he tweeted.

Tesla (NASDAQ:TSLA) reported fiscal Q2 adjusted earnings of $0.91 per diluted share, up from $0.76 a year earlier. Analysts polled by Capital IQ expected $0.82. Revenue for the quarter ended June 30 was $24.93 billion, up from $16.93 billion a year earlier. Analysts surveyed by Capital IQ expected $24.73 billion. For fiscal 2023, the automaker said it expects to remain ahead of the long-term 50% compound annual growth rate in production with about 1.8 million vehicles.