Electric vehicle (EV) maker Tesla (NASDAQ:TSLA) is prepping for the first deliveries of its pickup truck, Cybertruck, from Gigafactory Texas. The much-awaited event will be hosted on Thursday, November 30, at 1:00 p.m. EST. The Cybertruck will mark Tesla’s official entry into the electric pickup truck segment. The company is expected to deliver anywhere between ten and 30 of these pickup trucks tomorrow.
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Interestingly, Telsa has withheld some of the finer details of the Cybertruck until official deliveries, which makes the event even more exciting. Details on pricing, configurations, and range will be unveiled at the event. Analysts, investors, and the general public will closely watch the details as the event unfolds tomorrow. Pre-orders for the Cybertruck exceeded 2 million on its launch, while the Gigafactory Austin is equipped to manufacture a pilot capacity of 125,000 units.
Since the model launch in 2019, Tesla has been challenged on many fronts when it comes to producing the Cybertruck. After several delays and production issues related to the stainless steel body, Tesla is finally ready to deliver the trucks. But let’s not be too hopeful because some reports suggest that the initial deliveries will be made only to employees and insiders. Meanwhile, founder and CEO Elon Musk has warned on many occasions that ramping up the production of the Cybertrucks will be difficult to achieve immediately.
Is Tesla Stock Rated a Buy?
Wedbush analyst Daniel Ives is indeed excited about the Cybertruck’s deliveries, calling it a “historical moment.” The Tesla bull has a Buy rating on TSLA stock with a price target of $310 (25.7% upside).
Other analysts do not echo the same enthusiasm for Telsa. On TipRanks, Tesla has a Hold consensus rating based on 14 Buys, 13 Holds, and six Sell ratings. The average Tesla price forecast of $247.29 implies that shares are almost fully valued at current levels. Year-to-date, TSLA stock has zoomed 128.2%.
