Tesla rallies ahead of Q3 deliveries report

(Seeking Alpha) – Analysts are buzzing over Tesla’s (NASDAQ:TSLA) Q3 deliveries report that could be posted sometime Thursday or Friday.

Credit Suisse estimates Q3 deliveries of 140K vs. 136K consensus.

Credit Suisse’s math: “Decomposing 3Q deliveries, we assume June/July combined deliveries of ~75k; for context, this is the highest first-two-months of a quarter for Tesla, ahead of the prior high of ~50k in Oct/Nov 2018, and also ahead of Oct/Nov 2019 of ~47k…upside this quarter has primarily come from the US (in part aided by the ramp of Model Y) and also from China. Assuming Jul/Aug of ~75k, our forecast assumes September deliveries of ~65k units, which would represent the highest-ever final month of a quarter for Tesla (prior high of 63k in Dec’19). While aggressive, we believe this is feasible given Tesla’s typical quarter-end wave.”

Other Wall Street deliveries forecasts: Deutsche Bank (130K) and New Street Research (143K).

Shares of Tesla are showing some bounce early.