What Analysts Expect from Tesla’s Stock Ahead of Robotaxi Event
- Tesla’s robotaxi event on Thursday could unveil an autonomous taxi demo and product updates.
- Analysts remain split on Tesla stock, with 9 buys, 7 holds, and 3 sell ratings among 19 analysts.
- The event and Q3 financial results could be key catalysts for Tesla’s stock.
Tesla (TSLA) is under the spotlight this week as the company prepares for its highly anticipated robotaxi event on Thursday. Analysts expect Tesla to showcase an autonomous taxi demo, along with other exciting product announcements that could impact its stock.
Tesla’s stock has largely recovered from its losses earlier in 2024, with shares down just 1.5% year-to-date, trading at $244.83 as of Monday. Despite this rebound, Wall Street analysts remain divided, with Visible Alpha tracking 19 analysts—of which 9 rate the stock a “buy,” 7 a “hold,” and 3 a “sell.” The average price target of $219.78 is about 10% below its current trading price.
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What to Expect at Tesla’s Robotaxi Event
At the upcoming robotaxi event, analysts are looking forward to seeing a demo of Tesla’s autonomous taxi, as well as an update on Tesla’s progress toward regulatory approval for full self-driving software. The event may also feature the unveiling of a lower-priced Tesla vehicle and updates on ongoing projects such as the Optimus humanoid robot.
Tesla’s recent deliveries data surpassed expectations but failed to excite investors, leading to a slight dip in the stock. However, the robotaxi event and Tesla’s third-quarter earnings report, expected later this month, are seen as potential catalysts that could drive Tesla’s stock movement in the coming weeks.
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