Piper Sandler Reiterates Overweight Rating on Tesla (TSLA), 'Unconcerned by An Apparent Decline in Self-Driving Software Performance'

Piper Sandler analyst Alexander Potter reiterated an Overweight rating and $300.00 price target on Tesla (NASDAQ: TSLA).

The analyst said: "We have recently praised version 12.5 of Tesla's full self-driving (FSD) software. When deployed on 4th-generation hardware (“HW4”), v12.5 performed remarkably well. But then, after several “point releases” (v12.5.1.x), performance began deteriorating — at least based on data from the FSD Community Tracker (teslafsdtracker.com). Skeptics have responded by questioning the tracker's accuracy; but after exchanging emails with the tracker's designer, Elias Martinez, we think the actual explanation is more nuanced. Our take: recent trends may be concerning for HW3 vehicle owners, but not for shareholders."

For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.

Shares of Tesla closed at $219.41 yesterday.

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