TD Cowen Reiterates Buy on Tesla, $490 Price Target

TD Cowen analyst Itay Michaeli reiterated a Buy rating and $490.00 price target on Tesla (NASDAQ: TSLA).

“Tesla Q2 Delivery Preview: Staying AboveConsensus & See Upside Potential; Our Tesla Q2 vehicle delivery estimate of 418k units remains above the 406k consensus.

While the final days/weeks of the month can materially sway the outcome (June can be ~48% of Q2), recent data and our predictive model suggest upside potential towards a mid-400k delivery outcome.

A Q2 delivery beat could boost NT sentiment post the recent pullback, while supporting our US EV thesis.”

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