Tesla Robotaxi comments overshadow ‘weak’ quarter, says Barclays

Barclays analyst Dan Levy says Tesla’s (TSLA) “weak” Q4 results are overshadowed by its “supercharged” autonomous vehicles and artificial intelligence outlook. The company is launching its driverless Robotaxi program in Austin, Texas, in June, and its unsupervised full-self driving will open to a wide set of markets this year, the analyst tells investors in a research note. The firm points out Q4 included Tesla’s worst quarterly auto gross margin in seven years, far below the ingoing expectations. Barclays thought the shares would have a “back to earth” moment after the earnings print, but says that after the call, “the takeaway is – who cares about estimates when Tesla is providing you supercharged narrative command.” Barclays keeps an Equal Weight rating on the shares with a $325 price target