Tesla reports 486,532 deliveries as JPMorgan cuts target for Tesla stock

Published on 10/05/2026 at 10:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter deliveries exceeded consensus by 24,558 vehicles. Tesla stock costs EUR 331.85 on October 5, 2026 after EUR 329.28, plus 0.78 percent.

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Tesla (ISIN US88160R1014) was trading at EUR 331.85 at Lang & Schwarz on October 5, 2026 at 10:37 a.m. CEST, plus 0.78 percent versus the prior close of EUR 329.28. On October 2, Tesla reported 486,532 vehicle deliveries for the third quarter of 2026, while JPMorgan cut its price target from USD 445.00 to USD 415.00 on September 28, 2026, according to MarketBeat.

Deliveries clear company consensus

Tesla's third-quarter deliveries exceeded its company-compiled consensus of 461,974 vehicles by 24,558 vehicles, or 5.32 percent, according to CNBC. The result also exceeded second-quarter deliveries of 480,126 by 6,406 vehicles, a 1.33 percent sequential increase, but was below the 497,099 vehicles delivered in the year-earlier quarter by 10,567 vehicles, or 2.12 percent.

Production totaled 464,391 vehicles in the third quarter, leaving deliveries 22,141 vehicles above production. Tesla also deployed 13.70 GWh of energy storage products, compared with 13.50 GWh in the second quarter, according to the company's October 2 filing.

October 21 earnings date matters

The delivery report offers an operating signal, but it does not include net income, cash flow or margins. Tesla's filing states that the company will publish its third-quarter financial results after market close on October 21, 2026, followed by a webcast at 5:30 p.m. Eastern Time, making the earnings release the next major test of profitability and cash generation.

JPMorgan lowers the valuation bar

JPMorgan's USD 30.00 target reduction keeps valuation at the center of the debate even after deliveries exceeded consensus. MarketBeat reported that the bank maintained a Neutral rating while cutting the target from USD 445.00 to USD 415.00 on September 28, 2026.

Tesla's market capitalization was USD 1.5 trillion as of October 2, 2026, while its primary listing is on Nasdaq under ticker TSLA. The combination of a delivery increase from the prior quarter and a year-over-year decline leaves the October earnings release to clarify whether volume growth is translating into stronger financial performance.

Tesla stock holds above prior close

Tesla was trading at EUR 331.85 at Lang & Schwarz on October 5, 2026 at 10:37 a.m. CEST, plus 0.78 percent versus the Lang & Schwarz prior close of EUR 329.28 on October 2, 2026. The further course of trading is shown by the continuously updated real-time quote of Tesla stock.