Tesla: second-quarter deliveries beat consensus
(CercleFinance.com) - Tesla beat Wall Street estimates for vehicle deliveries in its second quarter, benefiting from stronger demand for its smaller Model 3 cars.
Tesla said it produced over 82,000 electric vehicles and delivered approximately 90,650 vehicles in the past quarter, including 80,050 Model 3/Y sedans and 10,600 Model S/X SUVs, 35% above expectations.
While its main factory in Fremont, California, was closed for much of the quarter, the company said it has "successfully" ramped production back to pre-Covid levels.
The shares jumped by over 7% on this news.
Separately, Wedbush Securities today raised its target price for the share from 1,000 dollars to 1,250 dollars, with a "bull case" now set at 2,000 dollars.
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