Tesla's Quarterly Report Summary

Tesla (NASDAQ:TSLA) reported strong quarterly results, resulting in over a 14% rise in stock premarket Thursday. Analysts shared mixed assessments regarding margins and product timelines.

• Canaccord: Optimistic about Tesla's growth, citing an "accelerating revenue and earnings story with an upcoming product cycle" anticipated to drive stock performance.

• Bernstein: Skeptical, maintaining an Underperform rating with a $120 price target. Although Q3 results were strong with 15.6% auto gross margins, they doubt Tesla can meet its ambitious self-driving and robotaxi goals, citing concerns over the $500 billion valuation.

• RBC Capital: Raised price target to $249 from $236, maintaining an Outperform rating, praising the company’s "eye-watering" auto gross profit despite price cuts. They believe future focus will shift to Tesla's energy storage and autonomy businesses.

• TD Cowen: Observed record low COGS per vehicle boosting auto gross margins to 17.1%, but warned of potential Q4 margin declines due to discount increases, maintaining a Hold rating.

• Goldman Sachs: Acknowledged positive margin surprise, highlighting debates around Tesla's ability to meet 2025 delivery targets.

• Truist: Raised concerns about lack of clarity on future models and FSD progress, maintaining a Hold rating with a price target of $238.

• Barclays: Suggested Q3 results provide short-term momentum but highlighted long-term uncertainties regarding AI and product cycles.

• Jefferies: Maintained a Hold rating, noting management's upbeat tone and a shift away from blaming interest rates, refocusing on the energy mission.

• Wedbush: Described margin increase as an "Aaron Judge-like performance," maintaining an Outperform rating with a $300 price target, stating the company is on a positive trajectory.

• Piper Sandler: Called the quarter "unexpectedly good," maintaining an Overweight rating with a $300 price target, emphasizing a positive 2025 outlook with projected 20-30% delivery growth.