GLJ Research analyst Gordon Johnson sees Tesla’s Q3 deliveries coming in below the consensus estimate of 461,500 units. The firm’s work points to 456,600 Q3 deliveries, which is up 2.9% quarter-over-quarter. Based on the latest China data, updates from the six countries that report daily sales in Europe and an analysis of U.S. vehicle counts, GLJ increased its Q3 delivery estimate to 456,600 from 449,000. It believes the buy-side “whisper” estimate is for Q3 deliveries of over 470,000. GLJ keeps a Sell rating on Tesla with a $24.86 price target.
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