Tesla Stock Surges 21% Post-Robotaxi Launch, Analysts Cautious

Tesla's stock price surged following the launch of its Robotaxi service in Austin, with the company's CEO seeing a significant increase in net worth. However, analysts from UBS have expressed skepticism about the long-term impact of this development on Tesla's stock price. In a recent report, UBS analysts acknowledged that Tesla's low-cost, scalable manufacturing model could give it an edge in the autonomous driving sector. However, they argued that the potential benefits of the Robotaxi service have already been factored into Tesla's stock price.

UBS estimates that, under optimal conditions, the Robotaxi service could result in 2.3 million autonomous vehicles and annual revenue of 200 billion dollars by 2040. However, the bank values this segment at around 99 dollars per share, and even when included in a broader analysis, UBS remains cautious about Tesla's current valuation. The bank believes that much of the expected growth from autonomous driving and other future technologies, such as humanoid robots, has already been priced into the stock.

UBS is not the only institution expressing concern about Tesla's valuation. A recent report from Wells Fargo also took a bearish stance on the company. The report highlighted that Tesla's fundamentals may be weaker than anticipated, with the bank predicting a 21% year-over-year decline in deliveries for the second quarter. This forecast is significantly lower than market consensus estimates. The report also noted that sales of the new Model Y have been lackluster, and that there is no new information on the affordable car model, which is expected to drive sales in the second half of the year. As a result, Wells Fargo has set a target price of 120 dollars for Tesla and maintained a "sell" rating.

Despite these bearish views, Tesla's Robotaxi launch has generated significant interest in the autonomous driving sector. The company's ability to leverage its existing infrastructure and technology to offer a low-cost, scalable Robotaxi service could position it as a leader in this emerging market. However, as UBS and Wells Fargo have noted, the long-term impact of this development on Tesla's stock price remains uncertain. Investors will be watching closely to see how the company's Robotaxi service performs in the coming months and years, and whether it can live up to the hype surrounding its launch.