TD Cowen Affirms Buy on Tesla, $330 Price Target

TD Cowen analyst Itay Michaeli reiterated a Buy rating and $330 price target on Tesla (NASDAQ: TSLA).

“Tesla Launches Austin Robotaxi Service; Initial Thoughts; On Sunday, Tesla launched its highly anticipated RoboTaxi service in Austin.

It appears that Day-1 was a success, with some aspects appearing better than we would’ve expected (ODD, pickups/drop-offs).

We remain bullish on the Tesla AV opportunity and are encouraged by Sunday’s developments.

Our initial take from observing rider feedback on Sunday is as follows: (a) The initial Austin operating area (ODD) was larger than we would’ve thought, although Tesla’s initial ODD was smaller than Waymo’s; (b) We were impressed by Tesla’s UI, which appeared welldeveloped for an early stage rideshare deployment; (c) We were particularly impressed by the pickup/drop-off accuracy (i.e. navigating within a parking lot to a destination), which can be tricky for RoboTaxis particularly during the early launch phase; (d) No reported safety or major vehicle performance issues as we’re aware.

For a first day, pretty impressive.”

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