Tesla Inc. (TSLA - Get Report) shares are on pace for their biggest three-day gain since October amid reports that a massive push to drive end-of-quarter sales could lead to record delivers for Elon Musk's clean-energy carmaker.
Electrek reported Thursday that Tesla has already delivered 33,000 cars in North America this quarter, with hopes of a similar tally for the month of June as the company incentivises employees with new bonuses. Tesla, Electrek reports, is looking to top its record of 90,700 deliveries in the final months of last year with a stronger global tally.
"While our demand is strong, we have a lot of vehicle deliveries to catch up to in order to have a successful quarter," Musk wrote in a company-wide email last week. "Per my earlier email, if we execute well, Q2 will be an all-time record for Tesla vehicle deliveries and an awesome victory!!."
Tesla shares were marked 5.4% higher Thursday to change hands at $207.41 each, the highest since May 17 and a move that lift the stock some 15.9% higher over the past three days, the best stretch since October of last year.
Under pressure from shareholders, potential China tariffs, increasing competition and myriad production challenges, Musk has sought to steady the stock's precipitous 2019 decline with a tighter grip on costs and a renewed focus on deliveries.
Analysts, however, continue to question the company's path to profitability, with Barclays' Brian Johnson cutting his price target on the carmaker to $150 per share from $192 amid concerns over stagnating domestic demand for its flagship Model 3 sedan.
Last month, Morgan Stanley analyst Adam Jonas sent shares in the group sharply lower after he reduced his "bear case" outcome for the stock price, a view based on a series of worst-case scenarios for Tesla, to $10 a share from a previous estimate of $97 amid increasing concern it could find itself trapped in a tech and trade war between Washington and Beijing.
Jonas's estimate is for Tesla sales in China, between 2020 and 2024, to generate around $9 billion in revenues.
However, should officials in Beijing respond to the increasingly damaging trade war and target Tesla with reprisal tariffs or restrictions, that figure could be sliced in half and carve more than $16.4 billion in market value from the Palo Alto, California-based company.