Barclays expects Tesla Q3 deliveries to miss consensus forecast
Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean energy space, as well as which stocks in these sectors that the best analysts on Wall Street are saying to buy and sell.
From the hotly-debated high-flier Tesla (TSLA), Wall Street’s newest darling Rivian (RIVN), traditional-stalwarts turned EV-upstarts GM (GM) and Ford (F) to the numerous SPAC-deal makers that have come public in this red-hot space, The Fly has you covered with “Charged,” a weekly recap of the top stories and expert calls in the sector.
TESLA DELIVERIES:
Barclays believes recent Tesla commentary on the pace of production provides some hint on the potential delivery volume in Q3 and forecasts 455,000 units to be delivered, which would be a miss compared to the consensus forecast for 463,000 units and also below the firm’s currently published estimate of 483,000 units. Barclays, which notes that its new estimate implies a quarter-over-quarter decline from the Q2 total of 466,000 units delivered.
Click here to check out Tesla’s recent Media Buzz Sentiment as measured by TipRanks.
ENPHASE:
Seaport Research upgraded Enphase Energy (ENPH), citing a U.S. residential solar recovery in a research note partially titled “Get there early to ensure you catch the sunrise.” The firm thinks that Enphase will benefit from ongoing share repurchases, continued robust growth in Europe’s residential solar market and “a clear emergent recovery in U.S. residential solar installations” by mid- to late-Q2 of 2024.
NIO SAYS NO CURRENT CAPITAL RAISING PLANS:
Nio (NIO) said, “The company has been made aware of certain media speculations claiming that the company is considering raising certain capital from investors, which have been widely circulated today. In light of the unusual market activity in the company’s American depositary shares today, the company would like to clarify that the company currently has no reportable capital raising activity, other than the recent convertible notes offering that was completed on September 25, 2023. The company is committed to maintaining transparent and timely communication with the public market, and will promptly announce any material information in accordance with applicable laws, listing rules, and best corporate practices.”
HYDROGEN:
HSBC initiated coverage of Plug Power (PLUG). Hydrogen is an enabling fuel and technology for a clean economy, the firm tells investors in a research note. HSBC sees U.S. clean hydrogen production capacity accelerating on the back of billions of dollars in federal stimulus. Plug is a one-stop shop for end-to-end hydrogen solutions, as well as liquid hydrogen fuel, the firm adds.
HSBC also started coverage of Bloom Energy (BE) Bloom is a focused play on solid oxide fuel cells and electrolyzers, and with manufacturing capacity to scale, the firm tells investors in a research note.
GROWTH COMPOUNDER:
Raymond James upgraded Brookfield Renewable Partners (BEP) following the Brookfield Listed Affiliates Investor Day. The entity has been and will continue to be a growth compounder, the firm tells investors in a research note, adding that industry headwinds support outperformance for Brookfield Renewable.
—
Originally Posted September 25, 2023 – What You Missed This Week in EVs and Clean Energy
Disclosure: Interactive Brokers
Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.
This material is from The Fly and is being posted with its permission. The views expressed in this material are solely those of the author and/or The Fly and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Join The Conversation
If you have a general question, it may already be covered in our FAQs. If you have an account-specific question or concern, please reach out to Client Services.