SpaceX owner and Tesla CEO Elon Musk gestures during a conversation at the E3 gaming convention in Los Angeles, June 13, 2019. Mike Blake | Reuters Wall Street analysts reacted with pleasant surprise after Tesla’s earnings report topped expectations on Wednesday after the bell. The company posted a third quarter profit and said it was ahead of schedule on production of its Model Y and Shanghai factory. Shares of the company were up as much as 20% after Wednesday’s report and are still up 17% in premarket trading. Here’s what the major analysts had to say about Tesla’s earnings report: “While we remain concerned on 2020 momentum / profitability, we acknowledge this was an outstanding quarter relative to lowered expectations despite mixed headwinds which we expect could increase as Model Y launches.” analysts at Evercore ISI said. The feeling was much the same from analysts at Bernstein. “The +20% move in the aftermarket likely says it all, but Q3 was a good quarter for Tesla,” analyst Toni Sacconaghi wrote to clients. But the firm also gave a word of warning. “We worry that Tesla’s 2H 19 is currently shaping up to look a lot like the company’s ebullient 2H 18,… Read full this story
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Here's what every major Wall Street analyst is saying about Tesla's surprisingly good quarter have 227 words, post on www.cnbc.com at October 24, 2019. This is cached page on wBlogs. If you want remove this page, please contact us.