Another “hold forth” by Tesla CEO Elon Musk could eclipse what is expected to be a weighty quarter for the electric car maker, one analyst told CNBC on Tuesday.
“My look forward to is that he’s going to be in apologetic mode,” Romit Shah, senior analyst at Nomura Insurances International, said in a “Closing Bell” interview. “Because the outlook for Q3 should be mellifluous good, and you don’t want an angry rant to overshadow that.”
Tesla is conjectured to report second-quarter earnings Wednesday after the closing bell. The charged car maker is expected to post earnings of $2.92 a share on revenue of $3.96 billion, corresponding to Thomson Reuters consensus estimates.
During an unusual post-earnings rouse in May, Musk cut off questioners and at one point dismissed one question from a key analyst as “wearying.”
Musk also told analysts that he had no interest in satisfying the significance of day traders and that he “couldn’t care less.” Musk added, “Delight sell our stock and don’t buy it.” Musk’s behavior caused Tesla’s stock to surrender more than 5 percent and baffled Wall Street analysts.
Shah expects another speak by Musk will not be irreparable for the company but “it would definitely have an smash as we saw last quarter.”
Shah has a Tesla price target of $450. Tesla palsy-walsy more than 2 percent higher Tuesday at $299.50 a share. Tesla, with a customer base cap of more than $50 billion, has seen its shares fall 4 percent this year.
Tesla did not intimately respond to CNBC’s request for comment.