Tesla: stock outperforms, buoyed by optimism from UBS

(CercleFinance.com) - Tesla shares are bucking the Nasdaq trend on Tuesday morning on the New York Stock Exchange, buoyed by encouraging comments from UBS.


At 10.45 am, the electric vehicle manufacturer's shares managed to gain 0.3%, while the technology-weighted index lost 0.5% at the same time.

The stock has already climbed 76% since its April low, taking its market capitalization to over $800 billion.

In a note released this morning, the research firm estimates that the Group should report around 470,000 deliveries for the third quarter, representing an increase of 8% year-on-year and 6% quarter-on-quarter.

Its analysts point out that this forecast is 3% above the current market consensus of around 458,000 units.

According to UBS, Tesla is expected to report its quarterly sales figures around October 2.

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