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Morgan Stanley Cuts Tesla Second-Half 2019 Revenue Growth Forecast – Benzinga.com

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Tesla Inc shares are up 4.6% in the past week on the strength of better-than-expected second-quarter delivery numbers, but one analyst said Monday that the strong numbers come at the expense of future quarters.

Morgan Stanley analyst Adam Jonas reiterated an Equal-weight rating on Tesla with a $230 price target.

Tesla likely pulled third- and fourth-quarter demand forward into the second quarter to beat consensus delivery estimates, Jonas said in a Monday note. (See his track record here.) 

Despite the beat, Morgan Stanley is leaving its full-year 2019 deliveries estimate unchanged at 347,000 vehicles. Tesla exceeded Morgan Stanley’s second-quarter deliveries estimate by 13,622 units, so Jonas lowered the third-quarter deliveries estimate by 6,500 to 91,300 and the fourth-quarter estimate by 7,200 to 97,200…

Read the full article on Benzinga.com

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