Cantor Fitzgerald reiterates Tesla stock rating on trucking outlook

Cantor Fitzgerald maintains an Overweight rating on Tesla Inc. (NASDAQ:TSLA) along with a $485.00 price target, despite market analysts questioning if the stock is overvalued compared to its Fair Value. At present, Tesla shares are trading at $372.11 with a substantial market capitalization of $1.47 trillion. The company's balance sheet shows it has more cash than debt, and it remains a major player in the Automobiles sector.

Cantor Fitzgerald cites the U.S. truck driver shortage as a potential growth driver for Tesla's autonomous trucking venture, although the company emphasizes that Semi electric trucks will only represent a small fraction of their fleet even by the end of the year. They anticipate Tesla producing up to 1,000 Semi Trucks weekly. Recent speculation includes a possible October 1 reveal of Tesla's high-performance Roadster EV.

Cantor Fitzgerald anticipates Tesla to deliver approximately 421,758 vehicles during the third quarter, which is lower than the Visible Alpha Consensus estimate of 448,679 vehicles and FactSet's 446,500 vehicle prediction. The European Union's deliberation on Tesla's Full Self-Driving system has been postponed until December, with approval already granted by the Dutch regulator RDW and several other nations.

The Czech Republic has also granted provisional approval. StoneX has reaffirmed a Buy rating on Tesla stock, setting a target price of $475.00, while UBS has maintained a Neutral rating with a $385.00 price target and predicts 470,000 deliveries, slightly above the Visible Alpha Consensus.