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The Tesla stock (NASDAQ: TSLA) continued its recovery on Thursday, despite Wall Street's seemingly better-than-expected corporate sentiment and demand for its vehicles, especially the model 3. Far from incredibly negative coverage received by Tesla in recent weeks, analysts such as Adam Jonas of Morgan Stanley has revised its position on the electric car manufacturer, saying that Tesla could be on the verge of pleasantly surprise in the second quarter.
In a note to investors Wednesday, Jonas said Tesla continued to "increase its lead in the market in May compared to a still small group of real competitors in the electric vehicle sector." which is supposed to be around 11,300 vehicles, was 2.6 times the combined total of competitors such as the Audi e-tron, the I-PACE Jaguar, the BMW i3, the Nissan Leaf and the Chevy Bolt EV, a vehicle once dubbed as potential "Killer Tesla."
Jonah's note Wednesday took a different tone from his previous bearish note on the company, where he gave the TSLA stock a "worst case" goal at just $ 10 a share. In his previous note, Jonas pointed out that Tesla was no longer seen as a growth story, but rather as a "history of credit crisis and restructuring." Most of these feelings were absent from Wednesday's analyst's note.
JMP Securities analysts Joseph Osha and Hilary Cauley also took an optimistic view of Tesla in a recent note to investors. According to analysts, Tesla's performance from April to May, particularly with regard to Model 3 records, is encouraging. "More models 3 were recorded in April and May than during the entire first quarter. It is clear that the volume of the second quarter of Tesla should significantly recover from the first quarter, "wrote analysts.
Morgan Stanley expects Tesla to supply between 360,000 and 400,000 vehicles this year, which represents "an increase of about 45% to 65% over 2018," according to the report. ;analyst. JMP, for its part, said it expects deliveries of Tesla for 2019 "very slightly rising from 379,600 to 378,900", due to the increasing volume of low-priced vehicles such as the Standard Range Plus Model 3 and potential decline in higher prices. electric cars like the S and X models.
Tesla's sharp drop in recent weeks has been mostly focused on lingering concerns about the company's alleged demand for vehicles. With sales figures stating otherwise and reports from Tesla owners suggesting that the company is currently favoring custom orders, it appears that the winds are changing for the electric car manufacturer. Eddie Yoon, founder of a think tank and a consulting company, recently observed that the current status of the TSLA stock resembled that of Netflix in 2011, just before the giant's Streaming began an eight-year climb that propelled it to record highs.
At the time of writing, Tesla shares are trading + 5.55% at $ 207.51 per share.
Disclosure: I have no property on TSLA stock and I do not plan to create positions within 72 hours.
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