Oppenheimer maintains Tesla at "Market Perform" rating; Q3 deliveries beat expectations but energy storage deployments fell short.

Oppenheimer maintained its "Market Perform" rating on Tesla after the company released its third-quarter delivery data. Tesla delivered 486,500 vehicles in the third quarter, above the company-compiled consensus of 462,000 and the FactSet estimate of 461,000, with Model 3/Y deliveries totaling 478,200 units, also significantly above market expectations; vehicle production for the same period was 464,400 units, with deliveries exceeding production. However, third-quarter energy storage product deployments came in at 13.7GWh, below the market expectation of 15.9GWh. Tesla will report its third-quarter earnings on October 21, and Oppenheimer has not yet adjusted its rating in response to the delivery beat.