Tesla (TSLA) Cybertruck 'Looks Really Weird' - Analyst
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Bernstein analyst Toni Sacconaghi just said what everyone has been thinking about Tesla's (NASDAQ: TSLA) new Cybertruck - it "looks weird... like, really weird."
"Musk had warned investors that Tesla's pickup would be "really futuristic, like cyberpunk Blade Runner," and he wasn't kidding," Sacconaghi commented. "Add a little bit of dirt, and you could even say it gives off a retro-future vibe a la Mad Max."
He said this is too bad because its on-paper specs "are insane… and the price is very competitive & much better than expected."
The analyst notes the Cybertuck boost a range of 250 –500+ miles; 0 – 60 time <3 seconds, faster than a 911; 14,000 lb towing; an undentable body; and adaptive air suspension. The Cybertruck comes in 3 trims: $40k; $50K and $70K.
That said, the analyst said "looks do matter" and they think Cybertruck is likely to be a niche offering – with sales of perhaps 50K units a year or less.
The analyst reiterated a Market Perform rating and $325.00 price target on TSLA.
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 $340.42 yesterday.
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Sanford C. Bernstein, Tesla, Toni SacconaghiSign up for StreetInsider Free!
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