Tesla (NASDAQ:TSLA) has been the talk of Wall Street for months now, fueled by anticipation of its Robotaxi unveiling. Now, investors finally get a chance to see what a driverless future might look like.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
The vehicle will get the Hollywood treatment tonight as its reveal at the “We, Robot” event will take place at the Warner Bros. Discovery’s movie studio in Burbank, California.
As if the Street wasn’t pumped enough, Wedbush analyst Daniel Ives has been ramping up the volume some more, claiming the event is no less than “historic.”
“We believe Robotaxi Day will be a seminal and historical day for Musk and Tesla and marks a new chapter of growth around autonomous, FSD, and AI future at Tesla,” the analyst excitedly said. “We continue to believe Tesla is the most undervalued AI name in the market and we expect Musk & Co. to unveil some ‘game changing’ autonomous technology at this event.”
So, no pressure then. But hype aside, what in essence can we expect from the event? Rumors are that the Robotaxi will be called the Cybercab, while there should be updates on Tesla’s Next-Gen Platform, and the advancements being made in FSD and AI. The company is also expected to outline phases of its Robotaxi strategy, and Ives is looking forward to insights on the scaling of Cybercab production, cost-per-mile projections, a Tesla ride-sharing app, and an on-site Generation 1 demo, highlighting the “breakthrough technology designed to revolutionize urban transportation.”
Ives thinks Musk will also address current investor concerns and “near-term pain points” while he should also share Tesla’s long-term vision as the company undergoes its second major transformation since the Model 3/Y production revamp. “We firmly believe that Tesla remains a robotics/AI play in the future rather than just an EV vendor,” Ives summed up.
To this end, Ives rates TSLA shares an Outperform (i.e. Buy), along with a $300 price target. The implication for investors? Upside of 24% from current levels. (To watch Ives’ track record, click here)
However, Ives’ stance is not one shared by most of his colleagues. While 10 other analysts join him in the bull camp, with an additional 16 Holds and 8 Sells, the consensus view is that this stock is a Hold. Most also think the shares are now overvalued, considering the $207.83 average target factors in a one-year decline of ~14%. (See Tesla stock forecast)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
