Morgan Stanley Maintains Equalweight on Tesla, $415 PT

Morgan Stanley analyst Andrew Percoco reiterated an Equalweight rating and $415.00 price target on Tesla (NASDAQ: TSLA).

“Tesla launched robotaxi in Miami over the weekend.

Tesla launched robotaxi Miami (including unsupervised vehicles) on Friday, July 3rd.

Miami was listed as “preparations underway” in the 1Q26 slide deck, along with Phoenix, Orlando, Tampa, and Las Vegas. We expect Tesla to launch in all of these metro areas by yearend.

Additionally, there have been some sightings of presumed robotaxi test vehicles in New Orleans (not confirmed by the company), which was not one of the cities listed as being in the preparation stage in the last earnings presentation.

We believe this news will be well received by the market after what had felt like a deceleration with the Robotaxi Tracker reflecting a decline in active vehicles in fleet since late April (although this data is not validated by the company).

We forecast 1,500 robotaxis (supervised + unsupervised) in the fleet by year-end, ramping to 30,000 by 2030.

While the absolute number of robotaxis is likely immaterial to earnings this year, the rate of change in the rollout provides more clarity for investors who may be skeptical about Tesla’s autonomous technology at scale.”

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