Morgan Stanley says Tesla (TSLA) Q3 deliveries of about 497,000 beat the sell side consensus expectation of 443,000 by 12% and came in at the high end of the buy side expectation range of 450,000-500,000. The “strong” Q3 delivery beat was likely driven by a demand pull-forward ahead of the expiry of EV consumer tax credits and marked the first year-over-year increase in deliveries this year, notes the analyst, who keeps an Overweight rating and $410 price target on Tesla shares.
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