Schaeffer's Top Stock Picks for '25

Tesla Stock Downgraded After Deliveries Miss

JMP Securities downgraded TSLA to "market perform"

Oct 3, 2019 at 10:08 AM
facebook X logo linkedin


As predicted by Cowen earlier this week, Tesla Inc (NASDAQ:TSLA) said it hit record production of 96,155 vehicles in the third quarter. However, the company also said it delivered 97,000 vehicles in the three-month period -- just below Wall Street's consensus estimate of 97,500 cars, and well below the company's target of 100,000 autos. As a result, TSLA stock is down 5.2% at $230.50, bringing its year-to-date deficit to 31%.

Analysts have been quick to chime in, with JMP Securities downgrading Tesla stock to "market perform" from "market outperform," and questioning "whether demand growth for TSLA's cars might be leveling off." Elsewhere, Wedbush said this report is a positive for the automaker, but thinks fourth-quarter profitability could be difficult, and Canaccord Genuity is "encouraged that production woes appear to have abated," and reiterated its "buy" rating and $350 price target.

More broadly speaking, seven analysts maintained a "strong buy" rating on TSLA stock prior to today, compared to five that called the equity a "hold," and seven that deemed it a "sell" or "strong sell." The average 12-month price target, meanwhile, is docked at $252.91, an 8.8% premium to current trading levels.

Options traders, on the other hand, have been overwhelmingly upbeat toward TSLA. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day call/put volume ratio of 1.23 ranks in the 90th annual percentile, meaning calls have been bought to open over puts at a quicker-than-usual clip.

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?

 

 

(function(doc, script) { var js, fjs = doc.getElementsByTagName(script)[0], frag = doc.createDocumentFragment(), add = function(url, id) { if (doc.getElementById(id)) {return;} js = doc.createElement(script); js.src = url; id && (js.id = id); frag.appendChild( js ); }; // Google+ button //add('https://apis.google.com/js/platform.js', async="defer"); // Facebook SDK add('//connect.facebook.net/en_US/all.js#xfbml=1&appId=772755279557744', 'facebook-jssdk'); // Twitter SDK //add('//platform.twitter.com/widgets.js', charset='utf-8'); fjs.parentNode.insertBefore(frag, fjs); }(document, 'script'));