On July 2nd, Tesla's delivery data showed that a total of 444,000 new cars were delivered in Q2, exceeding the market expectation of 439,300. The total production in Q2 was about 411,000.

After the announcement, Tesla's pre-market trading surged nearly 6%, after previously falling more than 2%. On Tuesday's opening, Tesla rose more than 5%, demonstrating extremely strong performance.

Since the beginning of this month, Tesla has rebounded by about 19%, and has risen for the past five trading days.

However, due to the slowdown in growth and the decline in profit expectations, investors were under pressure. Tesla's stock price has fallen 15% this year, during which time it rose by about 15%. $S&P 500 Index (.SPX.US)$But Wall Street still bullish on Tesla's future performance.

Morgan Stanley analyst and Tesla long bull Adam Jonas believes that as AI data centers are being built across the United States, the US power grid will bear a huge load, and Tesla's energy business is expected to meet the demand and become a key market player. The bank gives Tesla a shareholding rating and raises its target price to $310.

Investment bank Stifel covered Tesla for the first time last week and gave it a buy rating with a target price of $265, which means the stock still has about 35% upside potential.

Gengaro believes that although the sales of electric vehicles have slowed down recently, Tesla's development momentum will gradually improve with the expansion of the supercharging network, the launch of affordable car models, and overall technological improvements. Traditional auto manufacturers do not have the technology knowledge required for electric vehicles, and they are far behind in this electrification game.

The analyst recommends that investors buy on dips and hold on for long positions.

From the perspective of financial and profit indicators, Tesla's long-term profit expectations have bottomed out. Gengaro pointed out that over the past 12 months, the consensus expectations for Tesla's EBITDA in 2024 have dropped by 41%, and those for EBIT have dropped by 46%. As "negative expectations are gradually revised", the stock price may be boosted to some extent.

Gengaro is particularly bullish on Tesla's core technological superiority, believing that the company has no competitors in the field of electric vehicles:

The analyst suggests buying Tesla stock and holding for a long period.

Editor/Emily