Tesla deliveries for Q3 could be up 8% y/y, says UBS

UBS expects Tesla to report Q3 deliveries of roughly 470,000 units, up 8% year over year and up 6% quarter over quarter, toward the lower end of the buyside expectation range, the analyst tells investors in a research note. The firm believes consensus expectations look elevated and reminds investors that energy storage deployments are lumpy and that Q2 was a record quarter. UBS made no change to its Sell rating or $197 price target on Tesla shares.