Tesla Inc (NASDAQ:TSLA) has been struggling to meet its production goals, weighed down by factory issues and internal turmoil. And one analyst doesn’t foresee the company’s luck changing any time soon.
Goldman Sachs analyst David Tamberrino is expecting the electric-vehicle maker to announce second-quarter deliveries around July 3 and forecasts those deliveries to come in below guidance, according to a report on TheFly.com.
READ: Morgan Stanley analysts would be surprised if Tesla doesn’t raise capital by the end of 2018
Tesla projected 2018 Model S and X guidance of 100,000 units, but the analyst projects combined deliveries of around 23,000 in the quarter -- which is only slightly above FactSet's consensus of 22,300 but still short of the 25,000 needed to reach Tesla's stated goal for the year.
Model 3 deliveries may come in below consensus as well, according to the report.
Tamberrino maintains a Sell rating and a price target of US$195 on the shares.
Tesla stock was up 1.3% to US$328.75 in midday trading.
-- updates share price, clarifies sales projections --
Contact Lenore Fedow at lenore@proactiveinvestors.com
Follow her on Twitter: @LenoreMariee