Guggenheim Says Tesla's (TSLA) Opening of Austin Robotaxi Service to the Public "Quicker Than We Were Expecting"

Tesla, Inc. (NASDAQ:TSLA) is one of the most buzzing stocks to invest in right now. Tesla, Inc. (NASDAQ:TSLA) recently announced next month’s opening of the company’s Austin Robotaxi service to the public, which Guggenheim analyst Ronald Jewsikow considers “quicker than we were expecting.”

While the public launch of the Robotaxi experience is a “key step” to engage an expanded consumer group, the analyst noted that some skepticism among the fanbase might be warranted. He stated that:

“While safety drivers will remain, and no timeline has been provided for their removal, bulls have been willing to overlook the optics of safety drivers in TSLA vehicles, and we see no reason why that would change now.”

Jewsikow added that:

“Perhaps most importantly for investors bullish on TSLA for the fleet of potential FSD-enabled vehicles today, the 10x higher parameter count will be able to run on the current generation of FSD hardware and inference compute.”

Despite these updates, Jewsikow holds an overall bearish outlook on Tesla, Inc. (NASDAQ:TSLA), maintaining his Sell rating on the stock with a price target of $175.

Tesla, Inc. (NASDAQ:TSLA) designs, manufactures, and sells high-performance electric vehicles and energy generation and storage systems.

The company also focuses on innovative technologies, including robotics and AI, and has a humanoid robot line, Optimus, along with an autonomous vehicle fleet, Cybercabs.

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Disclosure: None. This article is originally published at Insider Monkey.