Overview

• Tesla stock topped $440 in early trading and was set for a new 2025 closing high after the target hike.
• Piper Sandler lifted its price target to $500 from $400 following a China research trip and reaffirmed an Overweight rating, citing leadership in AI-enabled robotics.
• The analyst estimates roughly 495,000 vehicle deliveries in Q3 and an uncertain 2026 total around 1.9 million units that could include up to 350,000 lower-cost Model 2 vehicles.
• Reuters reported Tesla has not applied for permits needed to launch robotaxi service in the San Francisco Bay Area and instead planned invitation-only rides in human-driven vehicles under a limousine permit.
• A Tesla shareholder said Arizona’s transportation department approved public-road autonomous testing with safety drivers, a claim not independently confirmed in these reports.