Actions of You’re here gained as much as 3% on Friday after the company said it delivered 201,250 vehicles in the second quarter.

Those results were roughly in line with analysts’ estimates of 201,820 delivered vehicles, according to a Friday note from Wedbush analyst Dan Ives. Tesla’s delivery figures were boosted by the success of its Model 3s and Ys, which accounted for 199,360 of the vehicles delivered. This exceeded analysts’ estimates of 194,770.

Meanwhile, Tesla’s delivery of 1,890 higher-margin Model S and Model X vehicles missed analysts’ estimates of 5,550.

In a tweet on Friday, Musk congratulated the Tesla team on their delivery figures: “Kudos to the Tesla team on over 200,000 cars built and delivered in the second quarter, despite many challenges !!”

The challenges mentioned by Musk include semiconductor shortages, which have hampered production by automakers around the world.

Tesla “once again defied doubters and bears calling for major failure with the chip shortage and Chinese PR problems lingering through April,” Ives said.

You’re here saw a 27% drop in vehicle sales in China for the month of April following several PR issues related to quality issues and protests at the Shanghai auto show.

Despite the problems, Tesla is on track to hit around 900,000 vehicle deliveries for 2021, seen as a major target at the start of the year, according to Ives.

And based on Tesla’s production of 206,421 vehicles in the second quarter, “some supply chain issues are starting to moderate for Tesla,” Ives said.

Ives reiterated his “Outperformance” rating and $ 1,000 price target for Tesla, which represents a potential rise of 48% from Thursday’s close.

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