What You Need To Know Ahead of Tesla's 'Robotaxi' Event Next Week
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Key TakeawaysTesla is expected to reveal its "robotaxi" on Oct. 10, after it was delayed from the original planned date in August.Analysts expect to see the vehicle, and hear details on Tesla's plans on its production, rollout, and operational costs.They also said that Tesla could show off its rumored new lower-cost model, which is expected to start production next year, and other products.
Tesla (TSLA) is expected to unveil its autonomous "robotaxi" on Thursday, Oct. 10, after the event was delayed from its original date in August, with analysts expecting a number of updates from the electric vehicle (EV) maker.Deutsche Bank and Wedbush analysts wrote recently that they expect to see a demo of the vehicle, rumored to be called the "Cybercab," along with projections of how much the robotaxi will cost to operate, where it will be produced and be available, and what Tesla's version of a ride-sharing app could look like.Analysts Expect Robotaxi Details, Other UpdatesThe analysts also said they expect that Tesla could show a new, lower-cost vehicle that has been a company goal for years, along with other updates on its self-driving software, its Optimus humanoid robot, and more.Wedbush analysts, reiterating an "outperform" rating with a $300 price target, said they "continue to believe Tesla is the most undervalued AI name in the market," and see the robotaxi unveiling as a "seminal and historical day" in its history. Deutsche Bank analysts, who have a "buy" rating and a $295 price target, said they are optimistic headed into the event, but recognize that high expectations could lead investors to "sell the news" following the event.Overall, analysts are more divided on Tesla stock. Of the 19 analysts tracked by Visible Alpha, nine have "buy" ratings, seven have "hold," and three have "sell" ratings, with an average price target at $218.61, roughly 12% below Wednesday afternoon's level of about $248 a share.Tesla shares have recovered after a substantial selloff in the first half of the year, but fell about 4% Wednesday after its third-quarter deliveries figures failed to impress. They are essentially flat on the year. Read the original article on Investopedia.
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