Tesla (TSLA) could break out.
All with Wedbush analysts expecting good numbers ahead of the company’s first-quarter numbers, and after the firm reiterated an outperform rating with a $225 target.
Analysts noted, “Clearly since the Model Y/3 price cuts were implemented early this year demand has been robust during the course of 1Q led by the key China region, which should enable Tesla to at least hit the ~420k bogey for the quarter with possible upside depending on logistics around deliveries this week. That said, the macro remains uncertain and we would not be surprised to see more slight price cuts around the edges both in the US and China over the coming months for Tesla to further stimulate consumer demand.”
Barclays analysts also expect Tesla to beat predictions, too. In fact, Dan Levy, as noted by Fox Business, said he expects the company to reach 425,000 units of volume ahead of expectations for 420,000.
Tesla last traded at $193.88 and could push aggressively higher into earnings on April 23.