August 18, 2022

Tesla’s shipping momentum for Q1 2022 is much stronger than Q4 2021: analyst

Tesla’s shipping momentum for Q1 2022 is much stronger than Q4 2021: analyst

GRUENHEIDE, GERMANY - SEPTEMBER 03: Tesla head Elon Musk talks to the press as he arrives to to have a look at the construction site of the new Tesla Gigafactory near Berlin on September 03, 2020 near Gruenheide, Germany. Musk is currently in Germany where he met with vaccine maker CureVac on Tuesday, with which Tesla has a cooperation to build devices for producing RNA vaccines, as well as German Economy Minister Peter Altmaier yesterday. (Photo by Maja Hitij/Getty Images)

Tesla’s shipping momentum for Q1 2022 is much stronger than Q4 2021: analystTesla’s shipping momentum for Q1 2022 is much stronger than Q4 2021: analyst

Tesla (NASDAQ:TSLA) might have achieved record-setting vehicle deliveries in the fourth quarter of 2021, but a longtime TSLA bull recently noted that the company’s numbers this Q1 2022 would likely be even better. 

Following his latest round of factory checks, Global Equities Research analyst Trip Chowdhry weighed in on the company’s current state. According to the analyst, the company’s production, shipping, and delivery momentum are currently “extremely solid,” with delivery activity in the company being much stronger than the previous quarter. 

Chowdhry also estimated that Tesla Model S Plaid deliveries seem to be up about 15%. This should benefit Tesla’s finances this first quarter, considering that the vehicle, a $130,000 all-electric car, has high margins. With this in mind, the Global Equities Research analyst reiterated his $1,500 per share price target on TSLA, as well as his “Overweight” rating. 

Signs that Tesla’s Q1 2022 performance would be impressive could be hinted at in recent reports from both the Fremont Factory and Gigafactory Shanghai. Chowdhry’s recent factory checks aside, footage from Shanghai taken last month indicated that Tesla China is putting the pedal to the metal when it comes to exporting the Model 3 and Model Y

That being said, Tesla CEO Elon Musk also warned during the company’s Q4 and FY 2021 earnings call that the chip shortage is still something that would have to be dealt with this year. Despite this, Tesla is still looking to achieve over 50% growth in vehicle deliveries this 2022. 

“In 2022, supply chain will continue to be the fundamental limiter of output across all factories. So, the chip shortage, while better than last year, is still an issue. And yes, so that’s — there are multiple supply chain challenges. And last year was difficult to predict and hopefully, this year will be smooth sailing, but I’m not sure what you do for an encore to 2021, 2020. Nonetheless, we do expect significant growth in 2022 over 2021, comfortably above 50% growth in 2022,” Musk said. 

Disclaimer: I am long TSLA.

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Tesla’s shipping momentum for Q1 2022 is much stronger than Q4 2021: analyst

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