Tesla (TSLA) Stock Slides 6% on Cybercab Letdown, But Goldman Sees a Silver Lining
TLDR
- TSLA stock dropped 6% after Tesla’s Sept. 3 Cybercab event disappointed investors
- Goldman Sachs analyst Mark Delaney sees a potential $0.05 to $0.30 per-mile cost advantage for Tesla over rivals like Waymo
- Delaney maintains a Hold rating and $360 price target on TSLA
- Tesla has completed one million miles of unsupervised robotaxi operations and started Cybercab rides in Austin
- The NHTSA has opened an audit involving approximately 1,000 Cybercabs over safety compliance concerns
Tesla stock took a hit last week after the company’s much-anticipated Cybercab event failed to impress. TSLA fell 6% on September 3, the day of the event, as investors walked away with more questions than answers.
Despite the selloff, Goldman Sachs analyst Mark Delaney issued a bullish note to clients, pointing to Tesla’s potential cost advantages in the autonomous vehicle space.
Delaney argued that Tesla’s camera-only sensor system and low-cost vehicle approach could make its robotaxi business a strong cash generator. If Tesla hits its target retail price of $20,000 to $30,000 for the Cybercab, it could achieve a $0.05 to $0.30 per-mile cost edge over competitors like Alphabet’s Waymo.
… Continue reading the full article at the original source below.
