### Wedbush Analyst Predicts Tesla Will Surpass Q3 Delivery Expectations

Tesla (NASDAQ: TSLA) is anticipated to exceed Wall Street's delivery estimates for the third quarter, according to a new note released by Dan Ives, a prominent analyst from Wedbush. The projection comes as analysts expect Tesla's delivery figures to reach 462,000 units, but Ives believes the actual numbers will be slightly higher.

"Next week, Tesla is expected to announce its 3Q deliveries, which we believe will come in above the Street's 462k estimate, with whisper numbers around 465,000 to 470,000 units," Ives stated. Despite experiencing a challenging first half of the year marked by softer demand, Ives suggests that the third quarter will highlight a strong recovery for Tesla. He pointed to the growing stability in price and demand as contributing factors to the anticipated rebound.

Ives remains optimistic about Tesla's performance for the rest of the year, projecting the automaker could hit 1.8 million deliveries for fiscal year 2024 if it achieves a Q3 delivery beat. "With the anticipated rebound in delivery performance, we remain confident in Tesla's ability to hit 1.8 million deliveries for FY24," he stated. Looking ahead, Ives underscored the importance of upcoming events like the Robotaxi event, which he expects will offer significant updates on Tesla's advancements in full self-driving (FSD) technology, artificial intelligence, and its broader future.

The note also acknowledged challenges Tesla faces in the Chinese and European markets but emphasized that U.S. market stabilization would balance any weaknesses. "China is clearly the star of the show this quarter," Ives wrote, noting that Tesla saw a 19.9 percent increase in registrations in China compared to the previous quarter and an 18.5 percent rise compared to the same quarter last year. Year-to-date figures also show a two percent increase compared to 2023.

Wedbush maintains an 'Outperform' rating on Tesla's stock with a $300 price target. Investors can expect Tesla to announce its delivery and production numbers on Wednesday morning.