There is a Model 3 in China.
The image is Tang Ke/Costfoto/Barcroft Media.
The Q4 deliveries that crushed expectations were reported by the company.
The company delivered over 300,000 vehicles.
"These delivery numbers were jaw dropping and speak to the robust EV demand trajectory that looks robust forTesla," said Wedbush.
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The electric vehicle manufacturer reported fourth-quarter deliveries that sailed past analyst expectations and the stock soared as much as 7% on Monday.
The company produced over 300,000 vehicles. Wall Street analysts had 888-269-5556 888-269-5556s for 266,000 vehicles by the end of the fourth quarter. The majority of the deliveries were for the Model 3 and Model Y vehicles.
For the entire of 2021, the company delivered over one million vehicles, an 87% increase from the previous year. The work by the team from the electric car company was great. Musk responded to the Q4 delivery results.
"These delivery numbers were jaw dropping and speaks to an EV demand trajectory that looks robust forTesla heading into 2022," said Dan Ives in a Sunday note. In December alone, he estimates that the company delivered 200,000 vehicles, speaking to the hockey stick-like growth for the company and electric vehicles in general.
The company's ability to navigate chip shortages over the past year has been credited by the analyst with driving significant growth. These numbers are hard to miss and will be a major feather in the cap for the bulls on Monday morning and should improve broader sentiment on the EV space as a whole.
The stock surge on Monday brought it back to the levels it was in late-November. The analyst assigned an Outperform rating and a price target of $1,400 for the company. In a bull case scenario, he assigned a year-end 2022, price target of $1,800, representing a potential upside of 60% from current levels.
Business Insider has an original article.
