Tesla could miss third-quarter delivery expectations, but the bigger risk is to 2024 projections, Deutsche Bank said.
Tesla Inc. could miss third-quarter delivery and production expectations, but there is “meaningful downside risk” to current 2024 projections due to limited volume growth, Deutsche Bank analyst Emmanuel Rosner said.
The stock TSLA, -0.64% slipped 0.5% in morning trading toward a one-month low. It had lost 1.2% on Tuesday, after Baird analyst Ben Kallo provided a forecast for Tesla’s third-quarter deliveries that was below Wall Street forecasts.On Wednesday, Deutsche Bank’s Rosner lowered the third-quarter deliveries estimate to 440,000 vehicles from 455,000, due to the global plant downtime the company has taken in the summer for upgrades to its Model 3 EVs.
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