Tesla worsening mix biggest negative surprise from Q1, says Morgan Stanley.
Morgan Stanley analyst Adam Jonas said he views the deteriorating sale mix of Model S and X vehicles compared to Model 3s was the biggest negative surprise in Tesla's Q1 delivery and production report given the high revenue and margin contribution of those two models. Many expected Tesla to disclose its quarter-end cash figure to try to calm the market, but the company only said it has "sufficient cash on hand," noted Jonas, which he said leaves bears to continue to question the firm's financial strength and liquidity. He maintains an Equal Weight rating on Tesla shares with a $260 price target.
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|Date:||Apr 4, 2019|
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