Tesla: Jefferies analyses results
(CercleFinance.com) - Tesla reported its Q1 2022 results last night.
The carmaker's revenue reached 18.7 billion dollars, up 81% y-o-y. Following this announcement, Jefferies confirmed its Buy recommendation on the stock with a target price of 1250 dollars.
"Q1 results beat all critical KPIs with gross auto margin (ex ZEV) reaching 30% for the first time and continuing to set new industry standards for complexity and productivity," the broker said.
The analyst says that the highlight was the decline in raw material costs per unit, despite inflation in raw materials and logistics, which helped it to increase its margins.
"Against market fears, no margin dilution from new plant launches. Guidance comments sound more bullish than last quarter," Jefferies added.
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