Tesla's Robotaxi Won't Get Investors 'Excited,' Say Analysts: 'We See...Unveiling On August 8 As More Aspirational'
Portfolio Pulse from Shanthi Rexaline
Analysts express skepticism about the impact of Tesla's upcoming robotaxi unveiling on August 8, citing concerns over the full-self-driving software's reliability and potential delivery growth reduction. Future Fund's Gary Black anticipates a lack of investor excitement without assurances on software safety and liability. He also predicts a downward revision of Tesla's 2024 delivery growth and earnings per share estimates. Bernstein analyst Toni Sacconaghi views the robotaxi announcement as aspirational, comparing it to previous Tesla projects like the Semi and Roadster, and highlights competitive threats from companies like BYD.
April 09, 2024 | 1:32 pm
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Analysts are skeptical about Tesla's robotaxi unveil and its impact on investor sentiment, with concerns over FSD software reliability and potential delivery growth reduction. Bernstein's underperform rating and $120 price target highlight competitive pressures and aspirational project concerns.
The skepticism from analysts regarding the robotaxi unveil and concerns over the full-self-driving software's reliability could dampen investor sentiment, potentially leading to a negative short-term impact on Tesla's stock price. The anticipation of a downward revision in delivery growth and earnings estimates, along with competitive threats, further supports a negative outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100