Institutional investors and professional traders rely on Fly to stay up-to-date on the latest news in the electric vehicle and clean energy space, as well as which stocks in these sectors Wall Street’s best analysts are calling to buy and sell.
From the hotly-debated high-flying Tesla (TSLA), Wall Street’s newest darling Rivian (RIVN), traditional-stalwarts replaced EV-upstarts GM (GM) and Ford (F) With the many SPAC-deal makers that have gone public in this red-hot space, The Fly has you covered with “Charged,” a weekly recap of top stories and expert calls in the field.
Q4 Delivery: Barclays expects Tesla to report Q4 deliveries of 515,000 units, up 6% year-over-year and just above the consensus estimate of 511,000. A beat could keep the stock’s narrative momentum strong, but the focus on Tesla’s fundamentals is limited overall, the firm told investors in a research note. Barclays believes that a modest near-term volume miss could hurt Tesla’s autonomous vehicles and artificial intelligence Push, which it says has recently come into greater focus ahead of a planned “unsupervised FSD” launch in 2025. Conversely, a modest beat on Q4 is likely not significant for the majority of the current Tesla bull case, the firm added. It maintains an equal weight rating on Tesla with a $270 price target.
Not positive: Barclays also said it believes the post-election rally in Tesla shares reflects a “sharp disconnect” between the stock and the company’s fundamentals. Technicals and options are playing an outsized role in the rally, the firm tells investors in a research note. Barclays believes Tesla shares are the best for crypto right now. Tesla’s fundamentals have been slightly incrementally positive since the election, but the firm claims Elon Musk’s premium is now too high. The past six weeks “serve as a reminder that Tesla remains a narrative king within the market, fundamentals aside,” it adds.
While 2025 consensus earnings estimates have risen slightly over the past six weeks, Tesla’s multiple has risen to 145-times 2025 numbers, up 80-times from immediate pre-elections, Barclays points out. It called Trump “not as positive as you think” for Tesla’s fundamentals. The firm maintains an equal weight rating on Tesla with a $270 price target.
