Tesla Analysts See Robotaxi Day Igniting Interest In Other Autonomous Vehicle Players, Service Providers
Portfolio Pulse from Erica Kollmann
RBC Capital Markets lowered its price target on Tesla (TSLA) due to a reduced valuation of its robotaxi segment. Despite this, Tesla's upcoming Robotaxi Day is expected to reignite interest in the autonomous vehicle market, particularly benefiting Alphabet's (GOOGL) Waymo. Tesla's robotaxi segment remains a significant valuation driver, and analysts are keenly watching the revenue share strategies.
June 20, 2024 | 5:54 pm
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RBC Capital Markets lowered its price target on Tesla from $293 to $227 due to a reduced valuation of its robotaxi segment. Despite this, Tesla's Robotaxi Day is expected to reignite interest in the autonomous vehicle market.
The reduced price target reflects a significant downgrade in the robotaxi segment's valuation, which is a major component of Tesla's overall valuation. However, the upcoming Robotaxi Day could offset some negative sentiment by reigniting interest in the autonomous vehicle market.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
BofA Securities expects Tesla's Robotaxi Day to reignite interest in the autonomous vehicle market, particularly benefiting Alphabet's Waymo, which has achieved significant milestones in autonomous driving.
Waymo's established progress in autonomous driving and its planned expansions position it well to benefit from the increased focus on autonomous vehicles driven by Tesla's Robotaxi Day.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80