Cantor Fitzgerald Affirms Overweight on Tesla, $355 Price Target

Cantor Fitzgerald analyst Andres Sheppard reiterated an Overweight rating and $355 price target on Tesla (NASDAQ: TSLA).

“TSLA began operating its robotaxi service in Austin on 6/23, with unsupervised Model Y vehicles carrying select passengers for a flat fee of $4.20 per ride.

Initial rides were limited to a select territory in Austin and included a Tesla safety monitor sitting in the front passenger seat.

Additionally, on 6/27, TSLA announced that it had completed its first fully autonomous delivery to a customer, (Tesla Model Y drove autonomously from the Austin Gigafactory to the customer’s driveway with zero human intervention).

Last week, TSLA noted that it now plans to expand the service in Austin (more vehicles and a larger area) over the next few weeks, subsequently remove the safety rider, then launch in additional states including CA, AZ, NV and FL.

We expect Robotaxi expansion into the Bay Area (in 3Q), followed by Arizona, Nevada and possibly Florida (in 4Q25/2026E), subject to regulatory approvals.

Tesla is then planning to roll out its Cybercab (no steering wheel or pedals) in 2026.

Overall, we continue to see Tesla’s Robotaxi segment as a software-as-a-service, high-margin model, and we expect TSLA to have the ability to rapidly scale following commercialization.

We expect TSLA will capture a leading market share in these industries.”

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