Tesla (TSLA) Soars After Forecasting up to 90,000 Deliveries in 2016

 
Tesla Motors (TSLA) reported a surprise fourth-quarter loss late Wednesday but shares rose 3% in early trading Thursday as the electric car maker was bullish on deliveries and said it would unveil its Model 3 mass-market car on March 31, Investor’s Business Daily reported.

Analysts had called for Q4 earnings per share of 10 cents excluding various items. But Tesla reported an adjusted loss of 87 cents instead, deepened from 13 cents a year earlier. Tesla revenue rose 59% to $1.75 billion in Q4, short of the $1.79 billion Wall Street view.

However, Tesla expects to deliver 80,000 to 90,000 new Model S and Model X vehicles in 2016, above the 80,000-85,000 vehicles that Tesla had previously anticipated.

Tesla delivered 50,658 vehicles in 2015. That includes 17,478 vehicles in Q4, with 206 of the new Model X crossover SUV.
 
TSLA was recommended in Cabot Stock of the Month in December 2011 at 29. Shares are currently trading at 154.

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