UBS analyst Joseph Spak lowered the firm’s Q4 forecast for Tesla (TSLA) to 415,000 deliveries from 429,000, 5% below consensus. The firm’s updated forecast is informed by weaker U.S. deliveries given the expiration of the $7,500 EV consumer tax credit at the end of September, the analyst tells investors in a research note. UBS has a Sell rating and $247 price target on the stock.
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