Analysts revise Tesla stock price target ahead of Robotaxi Day

Core Viewpoint - Tesla's stock has faced volatility due to mixed developments, including excitement over self-driving technology and disappointing vehicle delivery numbers [1][7]. Stock Performance - Tesla shares saw a 10.58% increase, rising by $23.21, with a current price of $242.62 [8]. - The stock experienced a sharp decline in early October after reporting lower-than-expected vehicle shipments for Q3 [7][9]. Analyst Ratings and Price Targets - Analysts have varied opinions on Tesla's stock, with RBC maintaining a "buy" rating, UBS holding a "sell" rating, and Truist Securities increasing its price target from $215 to $236 [9]. - Following the Q3 delivery report, HSBC and Guggenheim both issued "sell" ratings, with HSBC raising its price forecast from $118 to $124 and Guggenheim lowering it from $153 to $134 [9]. - JPMorgan assigned a "sell" rating but slightly increased its price target from $115 to $130, citing concerns over Tesla's vehicle volume growth [10]. - The average price target among analysts suggests a potential downside of 9.77%, estimating a drop to $217.14 [11][12]. Future Outlook - The upcoming "Robotaxi" event on October 10 is seen as a pivotal moment for Tesla, with potential to enhance its image as a technology and AI company [15]. - Success at the event could lead to significant stock price increases, while failure or further delays may reinforce perceptions of Tesla as primarily a car manufacturer [15][16].