Tesla Stock (TSLA) Prediction - Why Truist Is Cautious Despite Solid Q3 Deliveries

Tesla’s stock (TSLA) rose 2.2% on Monday after gaining 4.65% on October 2, following better-than-expected Q3 vehicle deliveries of 486.5k units, which beat consensus by 6%. The rally also followed CEO Elon Musk confirming discussions with Taiwan Semiconductor Manufacturing (TSM) about a potential collaboration on its Terafab chip project. Still, Truist analyst William Stein maintained a Hold rating and a $370 price target, staying cautious because he believes Tesla’s AI progress lags. He noted energy storage deployments missed expectations and that Tesla provided no updates on AI projects or new vehicles. Stein cut 2027 EPS by $0.01 to $1.97, while Baird reiterated a Buy at $475, citing deliveries driven mainly by Model 3/Y.