Tesla Model 3 is being displayed for the press members ahead of 97th Brussels Motor Show at Brussels Expo Center in Brussels, Belgium on January 19, 2019.
Dursun Aydemir | Anadolu Agency | Getty Images
Tesla got a boost on Friday from one of its biggest Wall Street skeptics, who now sees Elon Musk’s electric car company headed to a nearly profitable second quarter earnings report.
Barclays, which has an underweight rating and a $150 price target on Tesla shares, raised its forecast for Tesla’s second quarter report to a loss of 16 cents a share — a jump from the firm’s previous estimate of a loss of 71 cents a share. Tesla is expected to report its quarterly earnings next Wednesday.
“Increasing 2Q estimates as TSLA did indeed ‘move the metal,'” Barclays analyst Brian Johnson said in a note to investors.
Tesla shares rose 0.7% in premarket trading from its previous close of $253.54.
The company’s stock surged in early July after Tesla reported a record second-quarter deliveries number….