at numerian Capital we bring you the latest stock news each day please like And subscribe so we can bring these articles to you each day thank you today September 27 2023 Deutsche Bank just issued a warning on Tesla stock Deutsche Bank has warned that 2024 could be a rough year for Tesla's earnings Deutsche Bank expects Tesla to report third quarter deliveries of 440 comma 00 Vehicles down from 455 comma oo vehicles for 2024 Deutsche Bank has forecast roughly 2.1 million deliveries far below the consensus of about 2.3 million deliveries Tesla stock is up more than 120 percent so far this year Tesla NASDAQ TSLA seems to have run into a roadblock today currently Tesla stock is down by about 1 on news that Deutsche Bank cut its third quarter delivery estimate to 440 000 vehicles from 455 000 Vehicles representing a six percent reduction according to analyst Emmanuel Rosner the lower estimate is due to global plant downtime attributable to upgrades in Project Highland which is a revamp of the model 3. the analyst also believes that Tesla runs the risk of reporting earnings below expectations next year due to lower deliveries for 2024 Deutsche has forecast roughly 2.1 million deliveries which is below the analyst consensus estimate of about 2.3 million deliveries on the bright side with the company not trying to push as much volume there could potentially be less pricing pressure next year said Rosner Deutsche Cuts third quarter delivery estimate according to Investors Business Daily Tesla will likely release its third quarter delivery figure on October 2nd as of now the analyst consensus estimate sits at 462 000 Vehicles compared to second quarter deliveries of 466 140 Vehicles which set a quarterly delivery record with a lower third quarter delivery estimate Deutsch also cut its revenue and earnings Outlook the investment bank now expects 23.3 billion dollars of Revenue and EPS of 71 cents down by about 800 million dollars and down from 87 cents per share respectively that's compared to the consensus estimate of 25 billion dollars in Revenue in an EPS of 80 cents these factors have contributed to Deutsche cutting its Tesla stock price Target to 285 dollars from three hundred dollars however Rosner remains bullish on Tesla's fourth quarter and long-term prospects for the year we expect Tesla to reiterate its 1.8 meters deliveries Target suggesting sequentially improving production run rate as well as deliveries likely with better cost efficiencies attached and higher margins in fourth quarter versus third quarter together with first cyber trucks still scheduled to be delivered in fourth quarter We Believe Tesla's message could be optimistic about next quarter Deutsche isn't the only firm sounding the alarm on Tesla's third quarter deliveries earlier this month new Street research analyst Pierre farago estimated that Tesla would deliver 438 000 Vehicles during the quarter like Rosner he attributed his estimate to production downtime and forecast for a stronger fourth quarter thanks for watching
