Cantor Fitzgerald Maintains Overweight on Tesla, $485 PT
Cantor Fitzgerald analyst Andres Sheppard reiterated an Overweight rating and $485 price target on Tesla (NASDAQ: TSLA).
“Musk previously framed the U.S. truck driver shortage as a demand-side tailwind for autonomous trucking, a market Tesla intends to compete in.
Still, the company affirmed that the Semi will remain a very small percentage of Tesla’s total fleet even by year-end, and that autonomous trucking is less of a priority to high-volume autonomy ramp up of robotaxi/cybercab.
We believe the company is now producing up to ~1,000 Semi Trucks per week.
Tesla also recently dropped a new teaser for its upcoming Roadster high-performance EV, with a likely reveal targeted for 10/1.
For this week, we expect TSLA to pre-announce Q3 production and deliveries.
For Q3, Visible Alpha Consensus is currently expecting 448,679 vehicle deliveries (vs. our more conservative estimate of 421,758 vehicles), and Q3 energy storage deployments of 17.1 GWh (vs. our more conservative estimate of ~15 GWh).”
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