Analyst Gordon Johnson from GLJ Research maintained a Sell rating on Tesla and keeping the price target at $19.05.
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Gordon Johnson has given his Sell rating due to a combination of factors surrounding Tesla’s autonomous vehicle program. He highlights that despite claims of imminent advancements in Tesla’s self-driving technology, the company has not secured the necessary regulatory approvals to operate fully autonomous vehicles in key states like California and Texas. Tesla’s current operations are limited to a ride-hailing service that still requires a human driver, contrasting sharply with competitors who have obtained the required permits for driverless operations.
Furthermore, Johnson points out discrepancies in the data used to support claims of Tesla’s progress in autonomy. While some reports suggest improvements in Tesla’s Full Self-Driving (FSD) software, a closer examination reveals that the actual performance metrics are far behind those of competitors like Waymo. The inconsistency in Tesla’s FSD performance data raises concerns about the feasibility of their autonomy rollout, leading Johnson to question the optimism surrounding Tesla’s autonomous vehicle capabilities.
Johnson covers the Technology sector, focusing on stocks such as Canadian Solar, Enphase Energy, and First Solar. According to TipRanks, Johnson has an average return of -6.7% and a 53.56% success rate on recommended stocks.