CFRA Research analyst Garrett Nelson believes Tesla stock is undervalued, primarily due to its upcoming robotaxi business, which could tap into a $5 trillion global market. He expresses optimism regarding regulatory approvals for autonomous driving in the U.S., especially post-Tesla Robotaxi Day. Analyses from Morgan Stanley further speculate an $800 bull case for Tesla, forecasting city-wide robotaxi services by June 2025. Contrasting views emerge from other analysts like Gary Black, who doubts greater adoption among Tesla owners for the fleet model, which may challenge broader autonomous deployment.
We remain bullish on Tesla, Inc. because we’re optimistic as far as regulatory approvals and getting a regulatory framework related to autonomous driving in the United States.
The story was all about autonomous driving going forward... it's still trading at a fraction of the market opportunity here, which we estimate to be, you know, north of $5 trillion.
Morgan Stanley forecasted an $800 bull case scenario for Tesla based on the potential of its robotaxi business.
Gary Black predicts that less than 50% of Tesla owners will join the fleet, arguing against including a personal vehicle in a publicly-used fleet.
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