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according to foreign media reports, on september 25, tesla's stock price fell slightly in early trading on wednesday after closing at its highest level in more than two months, while a top wall street analyst made an optimistic forecast for the group's third-quarter delivery data.

tesla (tsla) is scheduled to report third-quarter delivery numbers early next week and a detailed earnings report later this month. tesla shares have climbed steadily over the past six months, but remain below early july levels due to delays in its self-driving taxi campaign over the summer.

the launch event, which has been rescheduled to october 10 in los angeles, is a key step in tesla ceo elon musk's plan to shift the group from traditional car manufacturing to autonomous driving.

however, profits from the former will take several quarters or even longer to materialize, so investors will still need to focus on the group's underlying delivery and margin data, as well as free cash flow forecasts, as it invests heavily in its transformation into an ai future.

however, piper sandler alexander potter remains bullish on the group's prospects, raising its price target on tesla by $10 to $310 per share in a report released on wednesday.

was tesla's third quarter its best ever?

porter, who has an overweight rating on tesla shares, said the three months through september looked like they could be tesla’s best quarter ever, despite weak sales in europe.

official data showed the group's sales in china rebounded strongly in august after struggling for much of the year, but data from the european automobile manufacturers association showed sales in europe remained significantly depressed, with a 43.2% drop last month.

porter said: cybertruck supported demand in the united states, which helped us raise our target sales forecast.

he expects third-quarter deliveries to reach 459,000 vehicles and full-year deliveries to reach 1.75 million vehicles.

porter said: "unlike other regions, in china, we can track weekly registration data. therefore, we firmly believe that tesla will deliver more than 175,000 vehicles in the third quarter."

he added: in the united states, although the sales data within the quarter is not very accurate, we believe that we can achieve quarter-on-quarter growth due to the promotion of cybertruck.

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tesla is scheduled to release its third-quarter earnings report after the market closes on oct. 16, with preliminary estimates calling for earnings of 60 cents per share, down 9% from the same period last year, on revenue of about $25.57 billion.