Excitement is building on Wall Street as all eyes turn to Tesla, Inc. (NASDAQ: TSLA) and their third-quarter delivery numbers, set to be released next week. Dan Ives, a respected tech analyst from Wedbush, expressed optimism on Friday, suggesting Tesla's upcoming figures will exceed expectations.

What's Driving the Anticipation?

In his latest report intriguingly titled “Expecting Solid Deliveries Next Week from Musk & Co…Mojo is Back at Tesla,” Ives anticipates that Tesla will outperform the current consensus estimate of 462,000 deliveries, estimating numbers could fall between 465,000 and 470,000.

The sharp rise in demand from China has been a significant highlight for Ives. He noted a series of record-breaking months leading up to the last week of September, attributing this surge to recently favorable financing options and a strong pent-up demand in the region. “China deliveries are set to be the star of the show this quarter,” Ives emphasized.

Price Cuts Behind, Growth Ahead

Ives believes the recent price cuts that have made headlines are largely behind Tesla, setting the stage for a recovery in gross margins going forward. Moreover, the impending Robotaxi event scheduled for October 10 is seen as a pivotal moment, anticipated to provide key updates on Tesla’s Full Self-Driving (FSD) technology and artificial intelligence advancements.

“Overall, the outlook for Tesla is promising. With the upcoming Robotaxi event and solid momentum in deliveries, the risk/reward balance for investors is compelling,” Ives noted enthusiastically.

Looking Ahead

Wedbush projects Tesla will achieve approximately 1.8 million deliveries by the fiscal year 2024, maintaining an 'Outperform' rating and a robust price target of $300 for Tesla’s stock.

As of the latest update, Tesla shares have risen by 1.54%, trading at $258.09. Investors and tech enthusiasts alike are on the edge of their seats, eager to see if Ives' predictions hold true, as Tesla’s journey continues to captivate the market.

Stay tuned for the upcoming delivery announcements and what they could mean for the future of Tesla!