Tesla Shares Rise 1% Overnight as Analysts Raise Q2 Delivery Forecast

According to Wolfe Research, Tesla shares rose 1% overnight late Wednesday as analysts grew more confident in a stronger-than-expected second quarter. Wolfe expects Tesla to deliver about 420,000 vehicles globally in Q2, ahead of Wall Street's consensus of 400,000 units, with automotive gross margins projected in the low-18% range and earnings per share of $0.50-$0.52, ahead of Street estimates of $0.45. Goldman Sachs also lifted its Q2 delivery estimate to 420,000 units this week, citing stronger demand in Europe, China and other international markets. Wolfe additionally cited Tesla-SpaceX merger speculation as an additional source of downside support, though the firm does not expect any transaction before mid-2027 at the earliest.
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