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Tesla Stock Rises 3% Following Cantor Fitzgerald Upgrade

Analysts cite Tesla's upcoming Robotaxi launch, FSD expansion, and diversification efforts as key growth drivers despite recent challenges.

Tesla electric vehicles outside the company's Shanghai gigafactory.
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Overview

  • Cantor Fitzgerald upgraded Tesla's stock to 'Overweight,' setting a $425 price target, which represents an 81% upside from current levels.
  • Tesla plans to launch its Robotaxi service in June 2025, alongside the expansion of its Full Self-Driving (FSD) technology in China and Europe this year, pending regulatory approval.
  • The company received a permit from California regulators to operate a ride-hailing service, advancing its autonomous vehicle ambitions.
  • Tesla's stock has dropped 52% since December 2024, partly due to investor concerns over Elon Musk's political ties, but it has recently rebounded by nearly 3%.
  • Long-term growth catalysts include the production of the Optimus Bot by 2026, the introduction of a lower-priced vehicle in 2025, and Tesla's energy storage initiatives.