Barclays Confirms Tesla Price Target After Q3 Delivery Results

Barclays analyst Dan Levy released a new research note on Tesla stock shortly after the company reported 462,890 vehicles delivered and 469,796 produced in the third quarter of the year. Tesla shares are trading 5.70 percent lower at $243 per share. The analyst mentioned investors expecting a more significant beat and noted an inventory build inline with expectations. Deliveries miss was led by Model S/X/Cybertruck weakness. The analyst reiterated an Equalweight rating with a $220 price target. Tesla deliveries included 439,975 Model 3 and Model Y, while other models accounted for 22,915 units. The figures represent a 6 percent growth year over year.