TradingKey – On June 29, Eastern Time, Tesla ( TSLA) shares surged back to $400, rising 5.83% to $401.84 as of press time. Tesla is reportedly set to release its second-quarter delivery report this week, with Wall Street investment banks expecting deliveries to beat market expectations.

[Source: TradingView]

Morgan Stanley raised its delivery forecast from 373,000 to 413,000 units. The bank stated that although the overall momentum in the US market remains soft, the recovery in the European and Chinese markets is robust and is expected to drive a 7.6% year-on-year increase in deliveries.

The core reason for the upward revision is a significant year-on-year increase in vehicle registration data in the European market, with April data…