Wall Street Analysts React to Tesla’s Q2 2021 Earnings [Roundup]

Following Tesla’s Q2 2021 quarterly earnings report, a number of stock analysts have released their thoughts on the company’s shares going forward.

On Tuesday, a handful of investment firms and analysts weighed in on Tesla (TSLA) and its stock, following a successful second quarter of the year and despite the global ongoing chip shortage.

Overall, most considered Tesla’s second-quarter a success, despite the overall downturn of the industry in general, due to supply chain and chip shortage issues.

Among others, analysts and firms that weighed in on the company’s stocks going forward included Adam Jonas (Morgan Stanley), Bill Selesky (Argus), Jed Dorsheimer (Canaccord Genuity), Ryan Brinkman (JPMorgan), Alexander Potter (Piper Sandler), and Colin Rusch (Oppenheimer).

You can see a number of ratings and price targets from different firms, as summarized below (via @Sawyer Merritt and @Mighty Tesla).

• Argus kept its BUY rating on TSLA with a $1,010 price target.
• Canaccord Genuity kept its BUY rating on TSLA, lowering to a $768 price target.
• JPMorgan kept its UNDERWEIGHT rating on TSLA, raising to a $180 price target.
• Morgan Stanley kept its OVERWEIGHT rating on TSLA with a $900 price target.
• Oppenheimer kept its OUTPERFORM rating on TSLA with a $1,080 price target.
• Piper Sandler kept its OVERWEIGHT rating on TSLA with a $1,200 price target.

Tesla CEO Elon Musk said during the Q2 earnings call the company remains affected by the global chip shortage, which is limiting the amount of cars it can produce.