12:50 PM EDT, 10/01/2024 (MT Newswires) -- Tesla (TSLA) is expected to report Q3 deliveries above market forecasts while the Robotaxi event is likely to unveil some "game changing" autonomous technology, Wedbush said in a note Tuesday.

The company is expected to announce on Wednesday Q3 deliveries above the market estimate of 462,000 units, with projections between 465,000 and 470,000 units, according to the note.

The Robotaxi event set for Oct. 10 is expected to provide updates on Tesla's next-gen platform, full self-driving technology and AI features along with announcements including overall cost per mile and a Tesla ride-share app, the investment firm said.

After facing softer electric vehicle demand earlier in 2024, Q3 is anticipated to mark a "solid rebound" for Tesla, especially due to increasing demand from China, according to Wedbush analysts.

Wedbush maintained an outperform rating and $300 price target for Tesla.

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