Barclays analyst Dan Levy expects a "modest" delivery beat in Q1 for Tesla, with production modestly outpacing deliveries. It expects Q1 deliveries of 425,000 units, modestly ahead of the 420,000 consensus. Concerns have built on the pace of deliveries amid weakening demand signals, but commentary on the pace of production "likely implies some upside, the analyst tells investors in a research note. The firm believes a beat could be a catalyst for the stock, as expectations have come down amid signs of softening demand. Barclays thinks additional price cuts are likely, but says Tesla can better afford cuts over other car makers. It keeps an Overweight rating on Tesla shares with a $275 price target.
Published first on TheFly
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