Tesla shares climbed as much as 6% Thursday afternoon after CEO Elon Musk told employees the automaker could deliver a record number of vehicles in its third quarter.

“We have a shot at achieving our first 100,000 vehicle delivery quarter,” Musk wrote in an email obtained by Electrek. “Net orders are tracking to reach about 110k, so demand is strong.”

The company delivered roughly 95,200 cars last quarter, hitting a record at the time. Tesla previously forecasted it will deliver between 360,000 and 400,000 vehicles worldwide for the full year.

Tesla traded at $US241.26 per share as of 3:20 p.m. ET Thursday, down about 28% year-to-date. The Thursday jump was the stock’s biggest intraday surge since July.

The automaker has 12 “buy” ratings, nine “hold” ratings, and 14 “sell” ratings from analysts, with a consensus price target of $US271.18, according to Bloomberg data.

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