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- Tesla Motors (TSLA): there are still some problems with the production of Model X
Tesla Motors (TSLA): there are still some problems with the production of Model X
Analysts at RBC Capital Mkts lowered TSLA target share price to $ 210 from $ 220. The company notes that Tesla Motors produced 18,345 vehicles in the second quarter (+ 20% compared to the first quarter), and by the end of the quarter reached the production level of less than 2 000 vehicles per week. Based on what they saw during their recent visit to the plant of the company, analysts believe that the company still has problems with the production of Model X.
Tesla Motors plans to increase production to 2200 units / week in the third quarter and 2,400 units / week in the fourth quarter. This implies the production of about 50 thousand vehicles in the second half. Thus, if the company will be able to carry out the delivery of these vehicles, its sales will be able to reach the level of 80-90K cars by the end of 2016, which is the lower limit of the forecast range. The RBC Capital Mkts believe that the company will supply 75 thousand cars in 2016 (previous forecast ~ 79K.).
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