Workers walk outside the Tesla Inc. Gigafactory in Shanghai, China, on Friday, Nov. 1, 2019.
Qilai Shen | Bloomberg | Getty Images
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The controversial and red hot Tesla will report its third-quarter earnings on Wednesday after the bell and Wall Street analysts say that once again, it’s a “show me” story.
Shares of the auto maker are down almost 3% this week but the stock is still up a whopping 411% this year as analysts continue to revise price targets upwards.
But analysts also say the stock has run too far, too fast and are taking a wait and see approach.
Key areas to watch in the report include updates on production in China, China Demand, and progress on reopening and ramping up factories in the wake of the coronavirus. Tesla could also report its fifth straight profitable quarter and it’s coming off its best quarter for deliveries, which it announced earlier this month.
Here’s what Wall Street analysts expect from Tesla’s earnings report: