The new year is nearly here, and
Tesla
shareholders are gearing up for data on fourth-quarter deliveries. Cowen analyst Jeffrey Osborne expects a strong end to the year for the electric-vehicle maker and investor darling.
In a Tuesday note, Osborne raised his price target for Tesla stock (ticker: TSLA) to $380 from $300. He points to positive December delivery trends in the U.S. and Europe, and now forecasts 181,500 fourth-quarter deliveries, up from his prior estimate of 156,500. Analysts polled by FactSet forecast deliveries at 174,000 for the quarter.
“Data from countries with real-time registration data in Europe and our own checks domestically suggest that Tesla is having a strong close” to the year, Osborne wrote, “which was enabled by numerous exports from both Fremont and Shanghai to Zeebrugge, Oslo, and Bremen in November.”