Citizens Reiterates Market Perform on Tesla
Citizens analyst Andrew Boone reiterated a Market Perform rating on Tesla (NASDAQ: TSLA).
“Last week, we hosted Nuro, May Mobility, Tensor, Moove, and PlusAI as part of our Autonomous Vehicle Day in San Francisco.
We come away believing that while the technical aspects of autonomy are incredibly challenging, we are nearing an inflection point for American AVs with multiple new companies reaching driver out and the beginning the process of commercialization in 2027.
While the challenges of the technology and execution reinforce our respect for Waymo, whose category leadership was reinforced multiple times through the day, other companies are following quickly as the world of transportation is clearly transitioning over the next decade to one where integrated computers drive us and goods.
As it relates to our coverage universe, Uber’s (UBER, MO, $100 PT) timetable of launching with additional partners was reinforced while the field broadly remains skeptical of Tesla’s (TSLA, MP) cameraonly AV technology given the importance of safety in the autonomy field.”
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