Tesla Stock (TSLA) Gets Price Target Boost Amid Robotaxi Launch

UBS Group raised its price target on Tesla shares to $215 from $190, attributing nearly half the valuation to the company's newly launched Robotaxi service in Austin. Despite the upgrade, the bank maintains a Sell rating, arguing the autonomous vehicle potential is already priced in.

Wedbush's Dan Ives offered a counterpoint after experiencing the Robotaxi firsthand, calling the technology 'exceeding expectations.' His $500 price target remains the Street's most bullish outlook, fueling a 10% intraday rally on launch day.

The Optimism contrasts with Tesla's core challenges - EV sales plummeted 49% recently, underscoring the strategic pivot toward autonomous tech. Market reactions suggest investors see Robotaxis as Tesla's next growth vector, though execution risks loom large.