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Tesla: upbeat ahead of quarterly deliveries

( - Tesla shares closed up 1.
5% on the New York Stock Exchange on Friday, outperforming the S&P by almost 2%, and climbing back above the $250 mark, just before the release of its Q3 delivery figures, for which the market has high expectations.

Analysts expect the electric vehicle manufacturer to unveil its sales figures on Sunday evening or Monday, before the US markets open.

Teams at Wedbush Securities estimate that Tesla is well on its way to selling between 460,000 and 465,000 units in the quarter just ended, before more serious difficulties than expected disrupted its factories in Shanghai and Austin.

These problems should, it says, lead to the postponement of the delivery of some 20,000 vehicles into Q4.

At Canaccord Genuity, demand nevertheless appears "relatively healthy", despite a faltering automotive market and recent price cuts by the group.

However, the Canadian broker also points to "better" news (for Tesla), such as the UAW strike affecting the three major automakers GM, Ford and Stellantis, as well as press rumours surrounding the development of a new manufacturing process ("giga-casting") and new Optimus humanoid robots.

Canaccord believes that these factors should enable the Group to secure industry-leading growth prospects and profit margins for years to come.

Beyond the release of quarterly deliveries, the broker says it is looking forward to the release of Q3 results, which are scheduled for next month, which should provide further information on the Cybertruck delivery schedule and the future evolution of profit margins.

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