Shares of Tesla Inc. TSLA,– 6. 63% sank 4.9% in premarket trading Thursday, after the electric-car maker reportedthird-quarter deliveriesthat disappointed investors with high expectations. Analyst Joe Osha at JMP Securities followed by downgrading Tesla to market perform from market outperform and removed his price target (previous $ 337). Osha said he doesn’t know any operational issues that could have prevented Tesla from delivering more vehicle if demand were available. “To put it another way, [late-Wednesday’s] announcement was the first time since covering the stock that we found ourselves wondering whether demand growth for [Tesla’s] cars might be leveling off,” Osha wrote in a note to clients. Separately, Wedbush analyst Dan Ives reiterated his neutral rating and $ 220 price target, saying the delivery number was “impressive” but “bulls wanted more.” J.P. Morgan’s Ryan Brinkman kept his underweight rating and $ 200 price target intact, saying that while deliveries were “slightly higher” than he expected the full-year guidance looks “tough to meet.” Ben Kallo at Baird maintained his outperform rating and $ 355 target, saying the full-year volume guidance is “attainable” as the focus shift to profitability. The stock has gained 3.5% over the past three months while the S&P 500 SPX,– 0. 30% has lost 3.6%.
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