Cantor Fitzgerald Reaffirms Tesla’s $355 Price Target
Cantor Fitzgerald analyst Andres Sheppard reaffirmed an ‘Overweight’ rating and $355 price target on Tesla.
“Tesla (TSLA, OW) is continuing to test its unsupervised self-driving Model Y vehicles (without a driver) in Austin, ahead of the company’s upcoming robotaxi rollout.
Recently, management clarified the official target for the Robotaxi Release is “June,” and that no specific date has been announced by the company (we expect towards end of month).
Additionally, Musk has previously hinted at the initial robotaxi rollout comprising of a “modest number of vehicles” at first, before scaling and expanding into other cities.
As of 1Q25, Tesla’s FSD (with supervision) has driven >3.5B cumulative miles, and we continue to believe that TSLA will capture a significant share of the autonomous driving and ride-sharing industries.We see this as a software-as-a-service, high-margin model, and we expect TSLA to have the ability to rapidly scale following commercialization.
Tesla is then planning to roll out its cybercab (no steering wheel or pedals) in 2026.
Recall, next quarter management expects to revise its 2025 automotive growth target (currently to “return to growth”) and/or its Energy Storage outlook of >50% YoY (grew >100% in FY24).Nonetheless, we remain bullish ahead of the introduction of lower-priced vehicles and the rollout of Robotaxi.
Other key material catalysts include: rollout of FSD in China (started in 1Q25), rollout of FSD in Europe (we expect 1H25, pending regulatory approval), high-volume production of Optimus Bot (2026E), initial deliveries of Optimus to customers (we expect 2027E), and introduction of the Semi Truck (we expect SOP in 2026 and for TSLA to enter the self-driving trucking industry).”
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