Tesla received an upgraded rating from Cantor Fitzgerald after a recent visit to its facilities in Austin. The firm remains optimistic despite current challenges, including negative sentiment and delivery concerns associated with the Model Y. Analyst Andres Sheppard emphasized the potential for significant growth in various segments, especially with the upcoming Robotaxi rollout and advancements in Full Self-Driving. Despite the downgrade in stock value, Cantor Fitzgerald believes now is an attractive entry point as the company prepares for major catalysts and innovations stretching into 2025.
On 3/18, we visited Tesla's Cortex AI data centers and the factory's production lines ahead of the company's introduction of its Robotaxi segment (targeted for June in Austin, followed by CA later in 2025). With Tesla's shares now down ~45% YRD, we upgrade Tesla to Overweight (from Neutral) ahead of upcoming material catalysts. Our $425 12-month PT is unchanged. Our Thoughts: Attractive Entry Point Ahead of Material Catalysts.
The bulls on Wall Street are still considering Tesla to be a safe play, especially considering its robust presence in various industries, including automotive, energy, and AI/Robotics.
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