Tesla Delivery Beat Sends Shares Surging Toward Top Price Target
- New China plant and Model Y rescues quarter hit by shutdown
- Shares will be eligible for S&P 500 if Musk posts GAAP profit
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Tesla Inc. reported a sequential gain in quarterly deliveries that seemed improbable weeks ago, sending its stock surging toward Wall Street’s most bullish price target.
The electric-car maker handed over 90,650 cars to customers in the three months ended in June, exceeding analysts’ average estimate for about 83,000 in a Bloomberg News survey. Tesla delivered about 88,400 vehicles in the first quarter.