Tesla (TSLA): TD Cowen Reiterates Buy, Sets $509 Price Target After RoboTaxi Tests

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Tesla, Inc. (NASDAQ:TSLA) is one of the Buzzing AI Stocks on Wall Street. On December 1st, TD Cowen analyst Itay Michaeli reiterated a “Buy” rating on the stock with a $509.00 price target. The rating affirmation follows the firm’s direct experience testing RoboTaxi rides in Austin, reinforcing confidence in Tesla’s autonomy progress.

The firm recounted testing three Tesla RoboTaxi rides in Austin, covering an estimated 40 miles at $1.08/mile. Overall, analysts found the rides to be impressive “all around,” with the autonomous systems handling complex scenarios effectively.

Noting this progress, TD Cowen believes that Tesla is well on track to remove safety monitors in Austin by year-end.

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“We had an opportunity to take three Tesla RoboTaxi rides in Austin last week, covering nearly 40 miles over ~2hrs at a $1.08 price/mile. Rides were impressive all around, with two notably complex scenarios (emergency vehicles & construction site) handled very well. Does Tesla seem to be on track to begin removing Austin safety monitors by year-end? We think so. Maintain Buy, $509 target.”

Tesla, Inc. (NASDAQ:TSLA) is an automotive and clean energy company that leverages advanced artificial intelligence in its autonomous driving technology and robotics initiatives.

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