Tesla (NASDAQ:TSLA) blew past expectations in Q3, delivering the kind of numbers investors had been hoping to see after a sluggish first half of the year. The EV leader reported 497,099 vehicle deliveries for the quarter, up 7% year over year and nearly 30% higher than the previous quarter.
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Of course, naysayers were quick to chime in, arguing that the spike might have less to do with renewed demand and more with timing – specifically, the expiration of the U.S. EV tax credit on September 30. Many expected a rush of last-minute purchases, which could explain why TSLA stock actually dipped a bit even after the upbeat report.
So, was this just a temporary, incentive-driven bump – a $7,500 sugar high before things cool off again? Canaccord analyst George Gianarikas is taking a more optimistic view.
“3Q25 was ‘a banger.’ The negative revision trend has been broken. The best delivery quarter in Tesla history. After a few bleak quarters, the tables have turned,” the 5-star analyst opined.
While Gianarikas acknowledges that the strong Q3 performance could have been a “one-time surge” – and is in fact modelling for a sequential decline next quarter – the analyst is projecting plenty of growth up ahead. This is especially the case heading into 2026, even if the roadmap is not fully defined at this juncture.
“We expect Tesla to launch new vehicles that will likely stoke demand and help continue the return to growth. We don’t know what they look and feel like,” adds Gianarikas.
Beyond the EV segment, the analyst points to the company’s improving energy storage deployment of close to 12.5 GWh in Q3 2025, a ~30.2% sequential increase from Q2. Gianarikas emphasizes that the world is anxious for more power storage options, and hyperscalers in particular are seeking out energy sources that are not fully tied to the grid.
And that’s just one of the many irons that Tesla has in the fire, according to Gianarikas.
“With momentum in near-term estimates, potential for new EVs, a continued expansion of the robotaxi ODD and the possibility of transformative developments in humanoid robotics – we reiterate our BUY rating,” sums up the analyst. His $490 price target implies a 14% upside from current levels. (To watch George Gianarikas’ track record, click here)
Still, Gianarikas’ bullish stance represents just one side of the debate. Broader Wall Street sentiment toward Tesla remains divided, with many analysts questioning whether the recent optimism is sustainable. Currently, TSLA holds a consensus rating of Hold (i.e., Neutral), based on 15 Buys, 12 Holds, and 9 Sells. The average 12-month price target of $347.42, in fact, points to potential losses of 19%. (See TSLA stock forecast)
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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
