Tesla shares fell more than 6% on Friday after the much-anticipated Cybercab launch in Austin, Texas, marking their worst day since July 23. The electric vehicle maker added the two-seat Cybercab, which has no steering wheel or pedals, to its existing robotaxi service, but only 45 Cybercab vehicles were authorized for driverless operations in Texas, out of 420 total registered Tesla vehicles statewide. The limited disclosure at this invitation-only event, which notably lacked a public livestream, left Wall Street analysts with more questions than answers, with some calling the launch underwhelming. Wells Fargo maintained its Underweight rating with a $130 price target, while JPMorgan, Barclays and Goldman Sachs stayed Neutral with targets of $445, $370 and $360 respectively. More bullish, Morgan Stanley and RBC Capital Markets set price targets of $400 and $480, projecting a gradual ramp-up of the Cybercab fleet by 2030.
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