After suffering multiple setbacks, including logistical and supply issues, Tesla Inc (NASDAQ:TSLA) will have to provide a massive fourth-quarter performance to meet targets, said Wedbush analysts.
In Q3, Tesla missed delivery targets by over 20,000 units, leaving the electric car manufacturer with roughly 475,000 vehicles to produce if it is to hit its growth target of 50% this year.
Wedbush highlighted growing competition as potentially stemming Tesla’s output, but suggested logistical challenges could also be responsible for delivery shortfalls.
Tesla’s Q3 earnings and future plans will be closely watched by investors when the company releases its results statement later today. Wedbush said it would “remain bullish” with the stock, whilst calling on Tesla CEO Elon Musk to turn things around in Q4 by executing reasonable growth.
“For Musk in the eyes of investors, patience is wearing extremely thin as the long term vision and robot talk is not what the Street cares about now in this white knuckle period of market turmoil,” said Wedbush.