Mizuho Raises Tesla Price Target to $530, Backs Robotaxi Momentum

Core Viewpoint - Tesla, Inc. is gaining attention on Wall Street due to its advancements in robotaxi technology, with Mizuho raising its price target for the stock to $530 from $475, indicating a bullish outlook on the company's efforts in this area [1]. Group 1: Robotaxi Developments - Tesla's robotaxi service initially launched with safety monitors, but CEO Elon Musk aims to eliminate these monitors by the end of the year [2]. - Mizuho analyst Vijay Rakesh noted that improvements in Tesla's Full Self-Driving technology could lead to an accelerated expansion of the robotaxi fleet in cities like Austin and San Francisco [2]. - The comparison with Alphabet's Waymo highlights that Waymo currently delivers 450,000 fully automated rides per week and aims to reach 1 million trips per week by the end of 2026, suggesting a benchmark for Tesla's ambitions [2]. Group 2: Market Sentiment and Analyst Opinions - Barclays analyst Dan Levy expressed that excitement is building around Tesla's autonomous vehicle and robotaxi narrative, although there are still key questions regarding the timing and scale of the rollout [3]. - Tesla is recognized as an automotive and clean energy company that utilizes advanced artificial intelligence in its autonomous driving and robotics initiatives [3].