特斯拉交付數據分析師怎麼看?
高盛分析師Mark Delaney將特斯拉(TSLA.US)目標價從235美元下調至205美元,維持“買入”評級。據瞭解,此前特拉斯在第四季度交付了約40.5萬輛汽車,生產了約44萬輛汽車,低於市場普遍預期。
對此,該分析師認爲,特斯拉第四季度的交付報告是“逐步負面的”,但儘管如此,鑑於特斯拉是綠色智行/電動汽車領域的成本和全面解決方案領導者,Delaney仍然認爲該公司處於長期增長的有利地位。
然而,伯恩斯坦分析師Toni Sacconaghi卻有不同意見,該分析師維持特斯拉“跑輸大盤”評級,目標價150美元。Sacconaghi指出,儘管特斯拉大幅降價,但該公司第四季度的交付量爲40.5萬輛,同比增長31%,低於普遍預期的41.8萬輛。該分析師認爲,特斯拉麪臨着“嚴重的需求問題”,儘管大幅降價,但該公司第四季度的賬面價值可能不到0.65倍。
同時,Sacconaghi還預計,特斯拉麪臨的需求挑戰將持續到2023年,尤其是因爲除了7座Model Y之外,目前似乎沒有任何一款特斯拉車型有資格獲得《通脹削減法案》(IRA)退稅。
此外,這位分析師表示對特斯拉的股價感到“更加頭疼”。一方面,該股目前的的交易價接近2050年現金流折現模型(DCF),投資者情緒“很糟糕”。但即便如此,該分析師仍認爲許多投資者低估了特斯拉麪臨的需求挑戰的規模,2023/2024年的數字可能會大幅重置。
另一方面,Sacconaghi還擔心,在利率上升/消費者支出放緩的情況下,市場可能會面臨更廣泛的壓力,並繼續對特斯拉等估值較高的股票造成不成比例的影響。
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