In our second major analysis of industry payment-practice reports,
Megan Kelly delves into the government data to identify the best and worst payers in the sector. We also look beyond the headline figures to uncover the often complex reasons why some companies appear able to settle their debts more swiftly than others
Slow payment has long plagued construction. It comes as no surprise to learn that, in 2020, amid a global pandemic, a national shutdown, and with many companies struggling for cash, poor payment practices have again come to the fore.
According to
Construction News’s latest analysis of government payment data, most of which was collected after the first lockdown was enforced in March 2020, many must still wait well beyond 30 days to receive payment. Adding to cashflow challenges, nearly a third of all payments breached agreed terms, typically meaning a commitment to pay by some other deadline beyond 30 days was also missed.
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.”
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