Author: Vitaliy Dadalyan

Tesla Analyst: China 'Star of the Show,' Automaker Set To Beat Q3 Delivery Forecast

After the lukewarm reception to Tesla Inc's (NASDAQ: TSLA) Batter Day, the next catalyst will be the release of third-quarter deliveries by the EV maker.The Tesla Analyst: Wedbush analyst Daniel Ives maintained a Neutral rating with a $475 price target. Ives Says Tesla Poised For Q3 Beat: Tesla likely had a very strong end to the quarter culminating in deliveries of over 140,000 versus the Street forecast of 136,000, Ives said in a Wednesday note. This could put quarterly EPS in the range of 55-60 cents, the analyst said. The bottom-line number, if achieved, is commendable, as it has come against a soft macro backdrop, with competitors across the board struggling to meet expectations, he said. The quarter's strength comes from massive underlying demand in China, specifically for the Model 3 vehicles, Ives said. China has been the "star of the show" in September, the analyst said. China Model 3 Uptake...