What the analyst said
Needham analyst Vikram Bagri reiterated a Hold rating on Tesla (NASDAQ: TSLA).
“We reiterate our Hold rating, seeing TSLA’s longer dated growth levers as more priced in than not after updating our model to include bullish FSD, Robotaxi and Robotics estimates.
With autonomous rideshare momentum accelerating (Waymo expansion and TSLA’s pending launch) and early Bot unit and margin commentary we put a stake in the ground with initial estimates to help better drive a valuation conversation.
We still see an expensive stock, with TSLA needing to trade at 50x our new ’32 estimates discounted back to drive ~30% upside from current prices, despite TSLA operating from a trailing position in autonomous rideshare and the early stage nature of the Robotics business.”
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Track record
Firm track recordToo early to score Needham: price targets are 12-month calls and fewer than 3 of its targets are a year old. 18 of its 39 open targets have already been reached. How we score
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