"While most firms are interested in highlighting Tesla's future growth, which will be catalyzed mostly by the advent of self-driving vehicles, autonomy, and the company's all-in mentality on AI and robotics, Pozdnyakov is solely focusing on vehicle deliveries. The analyst wrote in a note to investors that he believes Tesla's updated vehicle lineup, which includes its new affordable "Standard" trims of the Model 3 and Model Y, is going to stabilize the company's delivery volumes and return the company to annual growth."
"Tesla launched the new affordable Model 3 and Model Y "Standard" trims on October 7, which introduced two stripped-down, less premium versions of the all-electric sedan and crossover. They are both priced at under $40,000, with the Model 3 at $37,990 and the Model Y at $39,990, and while these prices may not necessarily be what consumers were expecting, they are well under what Kelley Blue Book said was the average new car transaction price for September, which swelled above $50,000."
Dmitriy Pozdnyakov of Freedom Capital upgraded Tesla from Sell to Hold and raised the price target to $406 based on delivery outlooks. The upgrade centers on the belief that Tesla's updated vehicle lineup, notably the new affordable "Standard" trims of the Model 3 and Model Y, will stabilize delivery volumes. The Standard trims are stripped-down, lower-priced versions launched on October 7, with the Model 3 at $37,990 and the Model Y at $39,990, both below the average new car transaction price. The expected stabilization of deliveries could return Tesla to annual growth despite broader market focus on AI and autonomy.
Read at TESLARATI
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