Elon Musk, chief executive officer of Tesla Inc., departs court in San Francisco, California, US, on Tuesday, Jan. 24, 2023.
Marlena Sloss | Bloomberg | Getty Images
“Thus far in January we’ve seen the strongest orders year-to-date than ever in our history. We’re currently seeing orders of almost twice the rate of production,” Tesla CEO Elon Musk said on an investor call Wednesday. Tesla reported automotive revenue of $21.3 billion in the fourth quarter and adjusted earnings per share of $1.19.
Analysts were mixed in their response to Tesla’s report. “Something for bulls… and bears,” the headline from Bernstein’s Thursday morning report read. Bernstein noted that it remained “torn on TSLA’s stock,” and reiterated its underperform rating. Morgan Stanley’s Adam Jonas was more sanguine, reiterating an overweight rating with a $220 price target.
“Better than feared,” wrote Canaccord Genuity analyst George Gianarikas in a Wednesday night note. Canaccord maintained its buy rating with a $275 price target.