Tesla stock price traded within a tight $180–$185 band today, reflecting investor caution ahead of the company’s next earnings call where margins and vehicle production updates will be closely scrutinized. “Tesla is expected to report 3Q25 global production and deliveries on Thursday. We model 442,000 deliveries versus ~448,000 for FactSet consensus with some high-side calls in the mid-460,000s. A solid sequential uptick off 2Q25’s ~384,000, a measured setup into year-end given a choppy incentive/pricing backdrop,” the analyst wrote. Benchmark is not the only firm that holds an optimistic outlook on Tesla’s Q3 results. Deutsche Bank raised its own delivery forecast to 461,500, while Piper Sandler lifted its price target to $500 following a visit to China to assess market conditions. Cantor Fitzgerald also reiterated an “Overweight” rating and $355 price target for TSLA stock. Advertisement Benchmark reiterated a Buy rating and $475 PT on Tesla! ⚡️ $TSLA pic.twitter.com/uJ3I5GTrXg — Tesla New York (@TeslaNY) September 29, 2025 Stock momentum meets competitive headwinds Tesla’s anticipated Q3 results are boosted in part by the impending expiration of the federal EV tax credit in the United States, which analysts believe has encouraged buyers to finalize vehicle purchases sooner, as noted in an Investing.com report. Tesla shares have surged nearly 30% in September, raising expectations for a strong delivery report. Benchmark warned, however, that some volatility may emerge in the coming quarter. “With the stock up sharply into the print (roughly ~28-32% in September), its positioning raises the bar for an upside surprise to translate into further near-term strength; we also see risk of volatility if regional mix or ASPs underwhelm. We continue to anticipate policy-driven choppiness after 3Q as certain EV incentives/credits tighten or roll off in select markets, potentially creating 4Q demand air pockets and order-book lumpiness,” the analyst wrote. Right now, we’re issuing “Double Down” alerts for three incredible companies , available when you join Stock Advisor , and there may not be another chance like this anytime soon. Technical analysis on Tesla stock price suggests a double-bottom around $175 could attract short-term traders, with upward momentum possible if sentiment shifts in the EV sector.