After having visited a large Tesla (TSLA) dealership in Charlotte, North Carolina, GLJ Research says the firm was “surprised by the lack of both” people there and enthusiasm from the sales rep. Based on this visit, “we would say it’s more likely TSLA’s 4Q24E U.S. sales disappoint vs. surprise to the upside,” adds the analyst, who forecasts Q4 deliveries of 493,215. The firm, which notes that its estimate compares to Kalshi’s current estimate of 548,000 and the consensus estimate of 512,293 units, maintains a Sell rating and $24.86 price target on Tesla shares, which are down $20.22, or 4.5%, to $433.91 in Friday afternoon trading.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
