Tesla gets $310 PT ahead of Cybertruck launch event: Wedbush 

Credit: Cybertruck/X

Wedbush analyst Daniel Ives reiterated his Outperform rating and $310 price target for Tesla. 

“This is another historical moment for Tesla and Musk with the Cybertruck unveil as the Street is excited to see the formal vehicle launch featuring the dual-motor trim and its top-level tri-motor AWD performance model along with updates regarding production and scaling of the Cybertruck platform, which is expected to be ~250k units per year by FY25,” commented Ives.

Ives reiterated Tesla’s rating and price point ahead of the Cybertruck launch event. During the event, Tesla is expected to release the Cybertruck’s trim levels and their respective price. Analysts are eager to hear the Cybertruck’s prices and update their Tesla price targets and ratings.

“We believe updated pricing will come out at Thursday’s event on each of the trim levels as the company scales the Cybertruck production story to give more clarity to the Street. Whisper numbers for the single motor are in the ~$50k range, with prices for the dual and tri-motor variants likely to be in the $60k – $80k range,” added the Wedbush analyst.

Analysts don’t look too kindly on the Tesla Cybertruck. The electric pickup truck appears to be seen as a distraction for Tesla by analysts who want the company to focus on the bigger picture. 

Earlier this month, Jeffries analyst Philippe Houchois lowered TSLA’s price target to $210 from $250. Houchois expressed some concerns over the Cybertruck and Tesla’s focus

“However unlikely just a few days before first deliveries, canceling Cybertruck would probably be positive for shares,” Houchois wrote Monday. “With 2024 already a lost year for growth, it would help Tesla refocus on an edge that was built on simplicity, scale, and speed.”

Morgan Stanley analyst Adam Jonas shared similar concerns about Tesla and Cybertruck production.

“The Cybertruck bar has been significantly lowered,” Jonas wrote. “While we continue to view the model as relatively insignificant within the grand scope of Tesla’s future portfolio, we would not underestimate the impact of launch/ramp execution on sentiment.”

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Tesla gets $310 PT ahead of Cybertruck launch event: Wedbush 
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