BUZZ - Tesla stock price falls; JPMorgan lowers target price and reduces delivery forecast for the third quarter

September 28 - ** Tesla TSLA.O shares fell 0.6% in pre-market trading, priced at $369.78

** JPMorgan lowered its target price from $445 to $415, still implying an 11.5% upside from the previous trading day's closing price

** The brokerage lowered its forecast for the electric vehicle maker's deliveries in Q3 2026, citing lower-than-expected deliveries in China and the US; it now expects deliveries of 482,000 units, down from the previous estimate of 516,000 units

** According to Visible Alpha, Tesla (link) delivered 480,126 vehicles from April to June, marking a record high for the second quarter, up about 25% year-on-year and well above analysts' average forecast of 402,776 units

** JPMorgan also lowered its Q3 earnings per share estimate to $0.36 from the previous $0.49 forecast

** Tesla will release its quarterly financial results on October 20

** In a report published on September 27, JPMorgan said: "Beyond quarterly results, we continue to monitor progress on the deployment of networked/robotaxis, including the launch of version v15, as well as regulatory dynamics that may hinder large-scale fleet expansion."

** According to data compiled by London Stock Exchange Group (LSEG), out of 48 brokerages, 22 rate the stock as "buy" or higher, 21 as "hold," and 5 as "sell" or lower

** As of the last close, the stock has fallen 17.26% year-to-date

(To assist non-native English speakers, Reuters automates the translation of its reports into several other languages. Machine translations may contain errors or lack needed context, and Reuters does not guarantee the accuracy of the machine-translated text. The machine translation is provided solely for reader convenience. Reuters accepts no responsibility for any harm or loss arising from the use of automated translation features.)