Tesla gains amid renewed confidence that Q3 deliveries may match expectations

Tesla (NASDAQ:TSLA) was one of the biggest gainers in the S&P 500 Index in late morning trading on Monday.

While the electric vehicle maker has its Robotaxi event and Q3 earnings report set to come in October, the first major reveal of the month will be the Q3 deliveries report, due out on October 2.

Analysts are more confident that Tesla’s (TSLA) deliveries report can match or top the consensus estimate for 461,000 deliveries after recent data showed enough strength in China to offset weakness in Europe. Goldman Sachs, Wolfe Research, and Barclays all issued recent forecasts right around the consensus mark or slightly above. On Seeking Alpha, opinion is divided as usual. Analysts Millennial Dividends and A.J. Button have Hold ratings on TSLA ahead of the three big events, while Hunter Wolf Research has a Strong Buy rating and Shubhm Mitessh Thakkar has a Strong Sell rating.

Shares of Tesla (TSLA) were up 4.46% at 11:08 a.m. to $248.88 vs. the 52-week trading range of $138.80 to $271.00. Over the last 52 weeks, Tesla (TSLA) has trailed the S&P 500 Index by a wide margin.