Tesla Q2 Deliveries Hit Record 480K, Barclays Lifts PT to $370
TSLA sits 33% above its 52-week low of $297.82.
Summary
Tesla delivered a record 480,126 vehicles in Q2, up 25% year-over-year and well above the ~406,000 estimate. Energy storage also hit a record 13.5 GWh. The beat prompted Barclays to raise its price target to $370 while maintaining Equal Weight. Wells Fargo stayed Underweight, citing margin pressure from higher chip, copper, and lithium costs. On the regulatory front, Sweden urged the EU to block Tesla's supervised self-driving unless speed-limit compliance is enforced. Separately, Canada suspended an extra duty on Chinese EVs for a year, altering competitive dynamics, and California launched a $270M EV rebate where Model 3 and Y qualify. Earnings are upcoming — traders will watch revenue, EPS, capex guidance, and autonomy updates.
At the time of this announcement, TSLA was trading at $396.18 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $1.5T. The 52-week trading range was $297.82 to $498.83. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.