Investor's Corner
Tesla’s strong Q3 financials catalyze price target increases from analysts
Tesla (NASDAQ: TSLA) posted an incredibly strong third quarter last evening during its Earnings Call, making remarkable strides on its financials to extend its profitable quarters streak to nine. Analysts at numerous Wall Street firms are upgrading their price targets on Tesla stock following the company’s strong numbers and positive outlook moving forward as it intends to ramp its Texas and Berlin Gigafactories in the coming months.
Wedbush – Dan Ives
Starting with some of Tesla’s most notable bulls, Wedbush’s Daniel Ives boosted his price target to $1,100 from $1,000 while maintaining an Outperform rating. “Last night, Tesla delivered solid top-line results which were in-line with expectations and speaks to a new Tesla margin story going forward,” Ives wrote to investors. “Auto GM was 30%+ and roughly 250 bps ahead of Street expectations which highlights the massive leverage in the Tesla story now starting to take hold with Giga China front and center as Tesla is on an EBITDA run-rate of roughly $13 billion, a staggering number given the company is still in the early stages of building out its global EV moat.”
Tesla’s demand increases, which have resulted in delivery estimates extending well into 2022 are going to be handled by Giga Berlin and Giga Texas. “We believe EV demand is outstripping supply for Tesla by roughly 30k units and the chip shortage has clearly amplified this dynamic with wait times for Model Y and some Model 3’s extending into the spring for current orders,” Ives said. “However, big supply help is on the way for Musk & Co. as the long the awaited Gigafactory hubs in Austin and Berlin are set to have are set to have the ribbon cut over the coming months and should expand Tesla’s capacity to roughly 2 million units annually over the next 18 months.
Ives has a $1,500 price target for Tesla’s bull case, up from the $1,300 target he previously held. TipRanks has Ives ranked 18 out of 7,705 analysts, with an average return of 37.5% and a success rate of 79%.
Canaccord Genuity – Jed Dorsheimer
Dorsheimer raised his price target from $940 to $1,040 while maintaining a Buy rating. “Post Tesla’s 3Q21, we are maintaining our BUY rating and increasing out PT to $1,040, which is based on 45x our ’24 Adj. EBITDA estimate of $25.9B (previously $940 based on 55x of $19B). We are bullish on the auto gross margin expansion, and remain excited for battery constraints to abate and be reallocated to energy products later in 2022,” Dorsheimer wrote. “After reporting record delivery numbers a few weeks ago, a beat may have been priced in and shares could see a ‘buy the rumor, sell the news’ type pull back. We would be buyers at these levels and if any pullback occurs.”
TipRanks has Dorsheimer ranked 210 out of 7,705 analysts, with an average return of 32.9% and a success rate of 56%.
Deutsche Bank – Emmanuel Rosner
Rosner raised his price target on Tesla from $900 to $1,000, maintaining his Buy rating. The impressive measure of automotive gross margins was indicative of a strong operational performance, despite industry challenges like semiconductor and parts shortages.
“Tesla reported particularly strong 3Q21 operating performance, delivering its highest auto gross margins since Model 3 was introduced, despite minimal S+X volume and higher supply chain costs, and impressive GAAP operating margin of 14.6% (18.4% ex-SBC), surpassing even its long-term company targets,” Rosner wrote. Tesla also stated that, despite its low volume, the Model S has returned to profitability.
“While revenue came in somewhat below expectations, this was driven mainly by lower regulatory credit and services/other contributions, while auto revenue was more in-line. We leave our 2021E deliveries unchanged at 845k, but take up our auto GM (ex credit) to nearly 27% from <26%, and EPS to $6.45 (from $6.20 previously).”
Rosner holds a ranking of 1,339 out of 7,705 analysts with a 57% success rate and an average return of 14.3%, according to TipRanks.
Disclosure: Joey Klender is a TSLA Shareholder.
Investor's Corner
Tesla crushes Wall Street expectations, beats delivery estimates by over 15 percent
Tesla (NASDAQ: TSLA) beat Wall Street expectations of 406,000 vehicles delivered in Q2 by reporting 480,126 deliveries for the three months ending in June.
Tesla reported it delivered 467,762 Model 3 and Model Y units, while 12,364 Model S, Model X, and Cybertrucks switched hands during the quarter. The Model S and Model X were officially sunset this past quarter and will no longer be part of the company’s Production & Delivery reports moving forward.
🚨 BREAKING: Tesla delivered 480,126 vehicles in Q2, ANNIHILATING Wall Street expectations of 406,000. Production was reported at 451,758.
Deliveries:
Model 3/Y: 467,762
Other Models: 12,364Production:
Model 3/Y: 442,936
Other Models: 8,822 https://t.co/TTHwQAsKt8 pic.twitter.com/7qI4Zj6FE5— TESLARATI (@Teslarati) July 2, 2026
The quarter is a pleasant surprise and a good rebound from Q1, when Tesla slightly missed the Wall Street consensus of 365,645 cars by reporting 358,023 deliveries for the first three motnhs of the year.
Energy storage deployments also provided some strength in Tesla’s delivery report, hitting 13.5 GWh for Q2. This is a particular division of Tesla’s business that has been overwhelmingly robust over the past few years, truly being a strong point of the company’s overall model.
For the year, Tesla analysts still predict deliveries to trend in the 1.69 million unit region, a modest 3 to 5 percent increase from the 1.64 million cars the company delivered last year. Tesla will likely return to more sequential and noticeable year-over-year growth as the Cybercab project starts to ramp up considerably in the next few years.
Tesla has some other potential catalysts to spur vehicle deliveries, too. Not only is it expecting Cybercab to truly start making a change in the next few years, but other vehicles could be entering the company’s lineup.
Tesla sends production Cybercab with no steering wheel, pedals to on-road testing
The slightly longer Model Y L has been a highly speculated release candidate in the U.S. It has already done incredibly well in China, and U.S. buyers have been wanting slightly more interior space than the Model Y. Now that the Model X is gone, it is more needed than ever.
Q2 highlights a pretty stable automotive division within Tesla, and no true concerns arise from these figures, especially considering it managed to beat expectations convincingly.
Investor's Corner
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
Tesla short seller Michael Burry, the subject of the film “The Big Short,” where he was portrayed by Steve Carell, has revealed he has opened a new bet against the stock.
In a new update to his Substack newsletter in a post titled “Trading Post June 30, 2026,” Burry revealed a new set of bets against Tesla, Caterpillar, NVIDIA, Applied Materials Inc., and the iShares Semiconductor ETF.
In regard to Tesla, Burry wrote:
“And finally I shorted Tesla at 416.22. Happy it jumped back to this level.”
This means Burry likely opened his new short position after the company’s recent rally on Wall Street, which saw Tesla shares sink in mid-May, only to recover to well over the $400 mark. Currently, shares trade at around $427.
The company saw a big Tuesday as shares climbed considerably, over 10 percent. The size of the Tesla short was not provided, nor did Burry give any information on the position’s structure, the number of shares, dollar value, or whether options were used in the short.
The Tesla and SpaceX merger everyone is talking about is quietly building
Over the years, Burry has been one of the more vocal critics of Tesla, calling its share price “media inflated,” and saying it was “ridiculously overvalued” as recently as December.
The company has largely transitioned away from being known as an automotive company and instead is much more widely regarded as an AI play, mostly due to its Full Self-Driving efforts, Optimus robot development, and data collection related to both.
This has not pulled those skeptics away from being vocal about their distaste for how Tesla is valued, but there’s no denying that the company is a global force in many things, including sustainable energy, automotive, and AI.
Wedbush Securities is initiating stock coverage on SpaceX (NASDAQ: SPCX), marking the first comments on the company since it went public several weeks ago. Wedbush and its analyst handling coverage, Dan Ives, are widely bullish on fellow Musk company Tesla (NASDAQ: TSLA).
Ives wrote his first note initiating coverage of SpaceX shares on Wednesday with a $190 price target and an ‘Outperform’ rating. The firm believes the company is well positioned off of its IPO because of its wide array of projects, including AI compute power and infrastructure, connectivity projects, and launches.
“We view SpaceX as one of the most differentiated assets within the tech market with a strong footprint across its three core markets, with Starlink driving success with connectivity,” Ives wrote, “Starship launches leading to a demand flywheel and increasing deal flow for its Colossus clusters.”
Elon Musk called it Epic: The full story of SpaceX’s Starship Flight 12
Wedbush leans heavily on Starlink, which they say is the “profitability driver given the strength of its recurring revenue base of ~12 million subscribers as of June 5th.” Ives believes Starlink is still in the “early innings” of penetrating the global telecommunications and broadband market, as it only holds less than a 1 percent share. However, this number is sure to increase over time.
It also highlights the importance of Starship, which it says is an “essential layer” of SpaceX’s overall success. SpaceX developing and displaying the ability to reuse rockets is a major cost and reliability advantage “as it reduces the necessary hardware launch costs while generating a feedback loop for future flights to improve their launch flight rate without accelerating capex spend.”
Finally, SpaceX’s recent AI/Compute projects are also very elementary, Ives writes. It is worth mentioning Wedbush said its $190 price target is derived from a valuation forecast that sees the company yielding roughly $2.48 trillion of implied enterprise value.
There are also some factors that Wedbush did not take into account with its initial coverage. The firm wrote in the note:
“We note that there is optional value coming from Starship’s accelerating scale towards sub-$200/kg unit economics, orbital data centers, and enterprise AI monetization as these factors could drive meaningful upside but these face major hurdles, so we do not take that into account with our valuation.”
SpaceX shares are down just over 2 percent today, trading at around $167 at the time of publication.
Tesla brings Model Y L ‘Launch Series’ to the U.S. at $61,990
Tesla just told us twice that Model Y L is coming to the U.S.
