JPMorgan believes that the Rallying Rally after Tesla’s benefit of 8% despite the estimates of the profits and the source of income of the missing analysts is a shoemaker.
The bank, which for a long time has been degraded to the actions of Tesla, said in a note on Thursday that a shortage of 38% of the benefits before interest and taxes and the lowest benefit margin for years was noted that the company is overvalued.
“This construction in Tesla’s movements did not delight in any relationship with the monetary functionality of the quarter of the quarter that has just ended or with its expansion clients in next year,” said analyst Ryan Brinkman.
Brinkman presented several theories about what the highest inventory has after the report on the results of Tesla, adding to the CEO of very high projections, Elon Musk, made the calls of the results.
“It is perhaps the statement of the management that she had known an attainable trace for more than the five maximum valuable corporations in the global together,” Brinkman said.
“Or perhaps the conviction of the control that one of its products has in itself the prospect of generating” north of 10 billion dollars of source of income, “he added, referring, to a prediction made in the call with Regarding the humanoid robot optimus of Tesla.
But Brinkman does not buy what Musk sells, leaving with its value of $ 135, which represents a 68% prospective disadvantage to existing levels.
Tesla informed that his first annual sales minimized since the sale of his first car in 2008. He declared a turnover in the fourth quarter of $ 25. 7 billion, missing estimates of $ 1. 4 billion and a benefit consisting with a centenage of $ 0. 73, the missing estimates of $ 0. 02.
But for Brinkman, the maximum worried facet could have been the recommendation to return to expansion in 2025.
Brinkman highlighted that the outlook Tesla provided during its third-quarter earnings call for vehicle deliveries to grow by 20% to 30% in 2025 was moderated to only “a return to growth.”
“This is a component of a broader style for Tesla’s percentages: the monetary functionality of the company and the Bloomberg consensus for income, margin, profits and money flows are decreasing, but analysts are worth it of objectives and the percentage of the company that is worth spending, “Brinkman said.
For example, the benefits of the fourth quarter of Tesla before interest and taxes of $ 1. 58 billion of 38% decrease that the 2. 5 billion dollars that Wall Street expects, but there are 10 quarters, the analyst’s consensus for the fourth quarter of 2024 Ebit amounted to almost $ nine billion, representing a fault of the fourth quarter. of this estimate.
“It takes us to Thearray,” Brinkman said. “Tesla’s movements continue to look like absolutely divorced basic principles. “
At the moment, investors seem to care because Musk is approaching the White House and remains the richest user in the global through a giant margin.
Tesla’s shares have higher up to 4% of the year to date and have higher up to 119% in the year beyond the year.