Tesla Inc
TSLA: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$595.00 | Xpvdyc | Snxtcthjw |
Tesla: First-Quarter Deliveries Show Surprising Decline
Tesla announced 2024 first-quarter deliveries of 386,810 vehicles, down roughly 8.5% versus the first quarter of 2023. We have updated our model to assume full-year 2024 deliveries come in roughly flat versus 2023 at a little over 1.8 million vehicles, down from our prior forecast for 10% growth. With our long-term outlook largely unchanged, we reduce our Tesla fair value estimate to $195 per share from $200. Our narrow moat rating is unchanged.