Institutional investors and professional traders rely on The Fly to stay up-to-date on breaking electric vehicle and clean energy news and which stocks in these sectors Wall Street’s top analysts are recommending to buy and sell.

From the hotly debated high-flyer Tesla (TSLA) to Wall Street’s newest darling, Rivian (RIVN), traditional companies have become electric upstarts GM (GM) and Ford (F) to the numerous SPAC dealmakers that have gone public in this red-hot space, The Fly brings you “Charged,” a weekly roundup of the top stories and expert discussions in the industry.

4TH QUARTER DELIVERIES: Barclays expects Tesla to report fourth-quarter deliveries of 515,000 units, up 6% year over year and just above the consensus estimate of 511,000. A beat could keep the stock’s narrative momentum strong, but the overall focus on Tesla’s fundamentals is limited, the company tells investors in a research note. Barclays expects a slight short-term volume decline “would likely do little” to dampen Tesla’s push into autonomous vehicles and artificial intelligence, which it said was ahead of its planned “Unsupervised FSD” launch in 2025 has come more into focus. Conversely, a slight The company adds that the fourth-quarter hit is likely insignificant to the majority of Tesla’s current bull market. It maintains an Equal Weight rating on Tesla with a price target of $270.

NOT SO POSITIVE: Barclays also said Tesla’s post-election rally reflected a “strong disconnect” between the stock and the company’s fundamentals. Technical factors and options are playing an outsized role in the rally, the company told investors in a research note. Barclays believes Tesla shares are now performing best compared to cryptocurrencies. The election has had little positive impact on Tesla’s fundamentals, but the premium for Elon Musk is now increased, the company claims. The last six weeks “serve as a reminder that Tesla remains a narrative king in the market regardless of fundamentals,” it continued.

While consensus estimates for 2025 earnings have risen slightly over the past six weeks, Tesla’s multiple has risen to a “frothy” 145x 2025 numbers, up from 80x just before the election, Barclays points out. It says Trump’s assessment of Tesla’s fundamentals “is not as positive as you might think.” The company maintains Tesla’s Equal-Weight rating with a price target of $270.

The story continues