- KeyBanc Capital Markets lifts its forecast for Tesla (NASDAQ:TSLA) Model 3 deliveries in Q2 to 30K from 20K after conducting channel checks at 20 Tesla stores.
- "Our checks with sales centers indicate Model 3 deliveries are tracking ~50% higher than our prior estimates for the quarter, prompting us to raise our estimates," advises KeyBanc analyst Brad Erickson.
- KeyBanc expects full-year Model 3 deliveries of 118,182 units vs. 98,182 units prior estimate.
- KeyBanc has a $300 fair value price target on Tesla based on the "significant premium" already built into the share price.
- Shares of Tesla are up 2.60% in premarket trading to $340.75.