TSLA - Tesla Analysts See Robotaxi Day Igniting Interest In Other Autonomous Vehicle Players Service Providers | Benzinga
RBC Capital Markets lowered its price target on Tesla, Inc. (NASDAQ:TSLA) from $293 to $227 Thursday, based on a lower robotaxi segment valuation. Another analyst sees Tesla’s upcoming Robotaxi day boosting a competitor.
Robotaxi Valuation Adjustment: RBC Capital assigned a $414 billion valuation to Tesla's robotaxi segment, down from $627 billion previously. The research firm pointed to its lower robotaxi pricing assumption of 81 cents per mile, down from 96 cents per mile, as the first factor in its reduced valuation.
Analyst Tom Narayan also pointed to a larger revenue share going to service providers, like Uber and Lyft, as another factor in its lower Tesla robotaxi expectations. Narayan predicted that widespread adoption of robotaxis will occur closer to 2040 with multiple software providers, fleet operators and OEMs producing purpose-built autonomous vehicles.
The analyst now sees four potential scenarios for how Tesla ...