Rumors that Cybertruck will cost between $50-80k - Wedbush

November 28, 2023 7:48 AM EST
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Wedbush analyst Daniel Ives reiterated an Outperform rating and $310.00 price target on Tesla (NASDAQ: TSLA) after the company scheduled a Cybertruck event for this Thursday to celebrate the first deliveries.

The analyst commented: "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."

"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."

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Shares of Tesla closed at $236.08 yesterday.

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