Truist Securities Reiterates Hold Rating on Tesla (TSLA)
Truist Securities analyst William Stein reiterated a Hold rating and $215.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "No better, arguably worse, than last time. In TSLA's (Hold) 1Q24 earnings call, CEO Musk told investors that they needed to understand the company's ability to "solve" autonomy by testing its autonomous driving software, FSD V12. Our review characterized it as stunningly good, but not useful today. In the 2Q24 earnings call, management reiterated its comments, so we tested what we believe is an updated version, v12.3.6. In our opinion the newest version is still stunningly good, but does not "solve" autonomy. The shortcomings that we observed make it challenging to imagine what TSLA will reveal in its RoboTaxi event in October."
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Shares of Tesla closed at $219.80 yesterday.