Baird analyst Ben Kallo notes that Tesla (TSLA) reported Q2 deliveries of 384,100, which declined about 13% year-over-year and narrowly missed consensus of 385,100, which was lowered into the print. The firm, which expects this Q2 report will “exaggerate questions regarding brand damage,” sees risk to both its own and consensus full-year estimates. Baird has a Neutral rating and $320 price target on Tesla shares.
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