‘Largely Anticlimactic,’ Analyst Crushes Tesla Robotaxi Buzz Before Launch

As anticipation builds around Tesla’s (TSLA) upcoming robotaxi launch, not everyone on Wall Street is buying into the hype. Notably, CFRA analyst Garrett Nelson has poured cold water on the excitement, calling the reveal “largely anticlimactic” and urging investors to manage expectations. Notably, CEO Elon Musk last week revealed on X that Tesla aims to begin offering robotaxi rides in Austin, Texas, as soon as June 22.

Wall Street Remains Divided on TSLA Stock

Nelson added that the upcoming launch is expected to be more subdued, lacking the excitement and spectacle that surrounded Tesla’s highly publicized Robotaxi Day event last October. Additionally, Nelson is more cautious as he’s watching closely how the robotaxi performs post-launch. Nelson maintains a Hold rating on TSLA stock with a $320 price target.

In contrast, Piper Sandler’s five-star-rated analyst Alexander Potter remains bullish, rating the stock a Buy with a $400 price target. He expects the stock to continue its upward momentum in the coming weeks as additional details emerge.

Meanwhile, longtime Tesla bull Dan Ives of Wedbush Securities believes the upcoming robotaxi launch will mark a “key next chapter of growth” for the company. He views Tesla not just as an automaker but as a major global force in disruptive technology. According to Ives, the first phase of Tesla’s bold long-term vision has been steadily taking shape over the past five years. Ives maintains a Buy rating on Tesla stock, projecting an upside of over 50%.

Nonetheless, analysts holding different views on TSLA stock is a common occurrence for the company. Controversy has long surrounded Tesla, and the upcoming robotaxi launch is only adding fuel to the debate.

Is Tesla a Good Share to Buy?

According to TipRanks, TSLA stock has received a Hold consensus rating, with 14 Buys, 12 Holds, and nine Sells assigned in the last three months. The average Tesla share price target is $286.14, suggesting a potential downside of 13% from the current level.

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