Tesla earnings exceeded third-quarter 2026 expectations, drawing a rating upgrade from BNP Paribas and a higher price target from Canaccord. Earnings per share were $0.48 against a Zacks consensus estimate of $0.43, while revenue reached $28.05 billion versus an average estimate of $27.90 billion.

Tesla earnings prompt higher analyst targets

BNP Paribas upgraded Tesla to Neutral from Underperform and raised its price target to $420 from $266. The change represents a less negative assessment, rather than a recommendation to buy.

Canaccord maintained its Buy rating and increased its target to $442 from $410. Bank of America reaffirmed a Buy rating and a $460 target. These targets are analyst assessments, not confirmed future share prices.

AI expectations extend beyond quarterly results

The investment debate extends beyond the period covered by Tesla's third-quarter filing, which ended September 30, 2026. Canaccord cited longer-term opportunities in artificial intelligence, connectivity and physical technologies.

Bank of America pointed to increasing acceptance of self-driving software, robotaxi growth and the early ramp-up of Optimus. Those arguments concern the potential development of businesses beyond traditional vehicle sales, rather than profits already established by the headline earnings figures.

BNP Paribas also treated a potential combination with SpaceX as a significant valuation consideration. That remains a speculative part of its investment thesis, not a completed transaction.

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