Jinwu Financial News |Morgan StanleyThe development report indicated,Tesla(TSLA) delivered approximately 3% fewer vehicles than market expectations in the fourth quarter. While the group ultimately missed its "slight growth" target for fiscal 2024, in-quarter deliveries of 495,600 vehicles have set a company record and are more than 10,000 vehicles higher than the same period in 2023. Separately, the bank mentioned that Tesla's fourth-quarter deliveries exceeded production by 36,000 vehicles, reducing inventory days by six to seven days. The bank believes that Tesla's underperformance reflects the relative ageing of the product, and that the strength of pre-orders and promotions is more than offset by the rising global supply of lower-priced competing products ahead of the group's new, cheaper model (Juniper) launch in early to mid-2025. Morgan Stanley has an "overweight" rating and a $400 price target.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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