August 8 robotaxi day 'a key historical moment for the Tesla story'
) AI Day" on August 8th will be a pivotal moment for the company, potentially propelling its stock towards a $1 trillion market cap. The firm maintained an Outperform rating and $275 price target on Tesla stock.
Wedbush highlights CEO Elon Musk's"strategic vision with FSD and Optimus" as a key factor in Tesla's future success. They see the recent FSD v12.4 update and the beginning of FSD testing in China as positive signs. Their bull case valuation of $350 per share hinges on Tesla achieving success with FSD and autonomous driving.
Wedbush acknowledges some ongoing challenges, like short-term demand fluctuations, particularly in China. Overall, Wedbush views Tesla as a company with a compelling risk/reward profile. With the August 8th Robotaxi Day and a potential demand rebound on the horizon, they believe Tesla has positive catalysts ahead.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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