UBS Reiterates Neutral on Tesla, $364 PT

UBS analyst Joseph Spak reiterated a Neutral rating and $364.00 price target on Tesla (NASDAQ: TSLA).

“We forecast 405k 2Q26 deliveries, +5% y/y, +13% q/q.

This compares to our prior 2Q26 forecast of 380k and is now +1% above Visible Alpha consensus of 402k (we don’t yet have company collected consensus; we expect this to be posted later in the week).

We believe buyside expectations range of 400-420k. So, we are towards the lower-end but concede there could be a little of upward bias if Tesla closes the quarter strong.

We also forecast storage deployment at 13.4 GWh (+40% y/y, +53% q/q). We expect TSLA to report 2Q26 deliveries on 7/2.”

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.