Tesla Q2 Delivery Estimate Trimmed; TD Cowen Reaffirms Buy Rating
Tesla, Inc. (NASDAQ:TSLA) ranks among the best FAANG stocks to buy according to hedge funds. On June 27, TD Cowen maintained its $330 price target and Buy rating on Tesla, Inc. (NASDAQ:TSLA), ahead of the electric vehicle manufacturer’s second-quarter delivery report.
From its initial prediction of 400,000 vehicles, the firm lowered its Q2 delivery projection to 362,000. While forecasts for Europe were largely the same, the adjustment reflected lower delivery expectations in China and the US, which were somewhat offset by other international markets. Even with the decrease, the updated delivery estimate is still greater than the 337,000 vehicles that Tesla, Inc. (NASDAQ:TSLA) shipped in the first quarter of 2025.
Based on the lower delivery prediction, the firm also decreased its second-quarter earnings per share estimate from $0.37 to $0.33. That said, TD Cowen stuck to its longer-term earnings forecasts for the company.
Based in Austin, Texas, Tesla, Inc. (NASDAQ:TSLA) is a well-known clean energy company that is best known for its electric vehicles (EVs). In addition to designing, producing, and marketing EVs, Tesla also offers solar panels, solar shingles, and energy storage devices.
While we acknowledge the potential of TSLA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds
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