News
SpaceX to kick off October with two launches and landings in 48 hours
SES-11 to be the last launch from LC-39A ahead of pad modifications for Falcon Heavy
After successfully weathering Hurricane Irma, SpaceX is preparing to remedy a slow month with three or even four launches in October.
Beginning on October 2nd, schedules have firmed up for the launch of SES-11 aboard a refurbished Falcon 9 first stage. SES, a Luxembourg-based satellite communications company, took the courageous and pioneering step of purchasing the first reused Falcon 9 for a commercial launch, culminating in the successful SES-10 mission in March 2017. Following that successful first reuse, SpaceX would later launch Bulgariasat-1 aboard a similarly-refurbished booster. SES-11 will become the third commercial reuse of an orbital rocket when it launches early next month from SpaceX’s LC-39A launch pad, and is currently expected to attempt a landing on a drone ship in the Atlantic Ocean.
All 10 Iridium NEXT satellites for the third launch are onsite at Vandenberg. Launching on a Falcon 9, October 4, 6:06am PDT (1:06pm UTC). pic.twitter.com/xBSWpYOx32
— NSF – NASASpaceflight.com (@NASASpaceflight) September 20, 2017
If all goes as planned, SpaceX will launch a second Falcon 9 as few as 36 hours after the SES-11 mission, this time carrying the third batch of 10 Iridium NEXT satellites from Vandenberg Air Force Base, California. All ten satellites have arrived at SpaceX’s VAFB facilities and will be attached to the payload dispenser and later encapsulated inside Falcon 9’s payload fairing over the next two weeks. The Iridium-3 launch will also see the Falcon 9 first stage land aboard SpaceX’s second drone ship, and is bound to be reminiscent of the two back-to-back launches SpaceX conducted on both coasts earlier this summer.
Iridum NEXT satellites being attached to the payload dispenser at SpaceX’s VAFB facilities. (Iridium)
Meanwhile, SpaceX has received an FCC license for first stage recovery activities beginning on October 14th, which meshes well with a scheduled launch date for KoreaSat-5, also 10/14. This date is dependent upon a number of variables that are currently hard to account for, and may slip further into October due to work expected to begin at the LC-39A pad after the launch of SES-11. Confirmed by Chris Bergin of NASASpaceflight.com, SpaceX is planning for SES-11 to be the last mission from the venerable launch pad for several weeks at a minimum, likely closer to several months.
10 days (Sept. 29) to SpaceX Falcon 9 (SES-11) Static Fire…at 39A. Oct. 2 launch, then all hands on deck to prep 39A TEL for Falcon Heavy. pic.twitter.com/B2zxLILqkU
— NSF – NASASpaceflight.com (@NASASpaceflight) September 19, 2017
This downtime is meant to begin at the same time LC-40, SpaceX’s second East coast pad, is reactivated for Falcon 9 launches. In the best-case scenario, this will allow the company to continue business as usual as it modifies LC-39A for Falcon Heavy, which is expected to begin on-pad testing later this year and potentially conduct an inaugural launch as early as November. As such, KoreaSat-5’s Falcon 9 may end up being the pathfinder SpaceX uses to solve the problems and squash the bugs that will inevitably arise while activating a new launch pad. Delays ought to be expected.
Following KoreaSat-5, the next SpaceX launch is not yet clear but will likely be Iridium-4, NEXT satellites 31-40. Including the three launches discussed above, SpaceX is likely to conduct 7-8 more launches before the end of 2017, not counting Falcon Heavy’s inaugural launch due to uncertainty.
Investor's Corner
Barclays lifts Tesla price target ahead of Q3 earnings amid AI momentum
Analyst Dan Levy adjusted his price target for TSLA stock from $275 to $350, while maintaining an “Equal Weight” rating for the EV maker.
Barclays has raised its price target for Tesla stock (NASDAQ: TSLA), with the firm’s analysts stating that the electric vehicle maker is approaching its Q3 earnings with two contrasting “stories.”
Analyst Dan Levy adjusted his price target for TSLA stock from $275 to $350, while maintaining an “Equal Weight” rating for the EV maker.
Tesla’s AI and autonomy narrative
Levy told investors that Tesla’s “accelerating autonomous and AI narrative,” amplified by CEO Elon Musk’s proposed compensation package, is energizing market sentiment. The analyst stated that expectations for a Q3 earnings-per-share beat are supported by improved vehicle delivery volumes and stronger-than-expected gross margins, as noted in a TipRanks report.
Tesla has been increasingly positioning itself as an AI-driven company, with Elon Musk frequently emphasizing the long-term potential of its Full Self-Driving (FSD) software and products like Optimus, both of which are heavily driven by AI. The company’s AI focus has also drawn the support of key companies like Nvidia, one of the world’s largest companies today.
Still cautious on TSLA
Despite bullish AI sentiments, Barclays maintained its caution on Tesla’s underlying business metrics. Levy described the firm’s stance as “leaning neutral to slightly negative” heading into the Q3 earnings call, citing concerns about near-term fundamentals of the electric vehicle maker.
Barclays is not the only firm that has expressed its concerns about TSLA stock recently. As per previous reports, BNP Paribas Exane also shared an “Underperform” rating on the company due to its two biggest products, the Robotaxi and Optimus, still generating “zero sales today, yet inform ~75% of our ~$1.02 trillion price target.” BNP Paribas, however, also estimated that Tesla will have an estimated 525,000 active Robotaxis by 2030, 17 million cumulative Optimus robot deliveries by 2040, and more than 11 million FSD subscriptions by 2030.
Investor's Corner
BNP Paribas Exane initiates Tesla coverage with “Underperform” rating
The firm’s projections for Tesla still include an estimated 525,000 active Robotaxis by 2030.
Tesla (NASDAQ: TSLA) has received a bearish call from BNP Paribas Exane, which initiated coverage on the stock with an Underperform rating and a $307 price target, about 30% below current levels.
The firm’s analysts argued that Tesla’s valuation is driven heavily by artificial intelligence ventures such as the Robotaxi and Optimus, which are both still not producing any sales today.
Tesla’s valuation
In its note, BNP Paribas Exane stated that Tesla’s two AI-led programs, the Robotaxi and Optimus robots, generate “zero sales today, yet inform ~75% of our ~$1.02 trillion price target.” The research firm’s model projected a maximum bull-case valuation of $2.7 trillion through 2040, but after discounting milestone probabilities, its base-case valuation remained at $1.02 trillion.
The analysts described their outlook as optimistic toward Tesla’s AI ventures but cautioned that the stock’s “unfavorable risk/reward is clear,” adding that consensus earnings expectations for 2026 remain too high. Tesla’s market cap currently stands around $1.44 trillion with a trailing twelve-month revenue of $92.7 billion, which BNP Paribas argued does not justify Tesla’s P/E ratio of 258.59, as noted in an Investing.com report.
Tesla and its peers
BNP Paribas Exane’s report also included a comparative study of the “Magnificent Seven,” finding Tesla’s current market valuation as rather aggressive. “Our unique comparative analysis of the ‘Mag 7’ reveals the extreme nature of TSLA’s valuation, as the market implicitly says TSLA’s 2035 earnings (~55% of which will be driven by Robotaxi & Optimus, w/ zero sales now) have the same level of risk & value-appropriation as the ‘Mag 6’s’ 2026 earnings,” the firm noted.
The firm’s projections for Tesla include an estimated 525,000 active Robotaxis by 2030, 17 million cumulative Optimus robot deliveries by 2040 priced above $20,000 each, and more than 11 million Full Self-Driving subscriptions by 2030. Interestingly enough, these seem to be rather optimistic projections for one of the electric vehicle maker’s more bearish estimates today.
News
Tesla FSD’s new Mad Max mode is getting rave reviews from users
It does appear that Mad Max mode is destined to be one of the system’s biggest steps forward to date.
Tesla’s release notes for the newly released Mad Max mode for FSD (Supervised) V14.1.2 simply stated that the feature “comes with higher speeds and more frequent lane changes than Hurry.” But as per videos that have been posted online by FSD users who have tested the system, it does appear that Mad Max mode is destined to be one of the system’s biggest steps forward to date.
It is then no surprise that the new capability is getting rave reviews from Tesla owners.
Impressive tests
A look at posts on social media platform X would show that, similar to past FSD releases, numerous Tesla content creators immediately tested Mad Max mode on real-world streets after it was downloaded onto their vehicle. Considering that the update was released rather late, the first tests of Mad Max mode were done at night. Despite this, it was evident that Tesla worked very hard to make Mad Max mode into something that is very useful in real-world scenarios.
This could be seen in videos from longtime Tesla owner @BLKMDL3, who observed that Max Max mode was “amazing” and like “perfect for LA traffic” due to its cautious but assertive nature. Later on, the Tesla owner noted that after eight drives, it was evident that FSD (Supervised) V14.1.2 was impressive.
Assertive but safe
Other testers such as Model Y owner Sawyer Merritt noted that Mad Max mode drives very quickly and confidently, with smoother acceleration that is still very safe. These were echoed by another longtime FSD tester, Dirty Tesla, who noted that Mad Max mode seems to be designed for heavy, aggressive traffic so users could fit in better. The FSD user did, however, observe that Mad Max mode does speed up a lot on open roads.
Recent comments from Tesla AI Head Ashok Elluswamy have indicated that Mad Max mode was created to be a solution for daytime congested traffic, which is arguably one of the most soul-crushing experiences that drivers deal with on a daily basis. With this in mind, it does appear that FSD (Supervised) V14.1.2 could prove to be a notable step forward in Tesla’s push towards true autonomous driving.
Barclays lifts Tesla price target ahead of Q3 earnings amid AI momentum
BNP Paribas Exane initiates Tesla coverage with “Underperform” rating
Tesla FSD’s new Mad Max mode is getting rave reviews from users
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