TD Cowen Reaffirms Buy on Tesla After Impressive Austin Robotaxi Launch

Tesla, Inc. (NASDAQ:TSLA) ranks among the best fundamental stocks to buy according to hedge funds. Following the company’s robotaxi service launch in Austin on June 23, TD Cowen reaffirmed its Buy rating and $330 price target for Tesla, Inc. (NASDAQ:TSLA). According to TD Cowen, the electric car manufacturer’s eagerly awaited robotaxi service was launched in Austin on June 22. The first day seemed to go well, with several aspects surpassing expectations, especially in terms of the operational design domain and pickup/drop-off capabilities.

TD Cowen commended the well-designed user interface for an early-stage ridesharing deployment and noted that Tesla’s initial operational area in Austin was larger than anticipated, albeit smaller than rival Waymo’s service area. The first day of operations saw no significant safety or vehicle performance difficulties, which TD Cowen described as “pretty impressive” for an initial launch.

Based in Austin, Texas, Tesla, Inc. (NASDAQ:TSLA) is a well-known clean energy company that is best known for its electric vehicles (EVs). In addition to designing, producing, and marketing EVs, Tesla also offers solar panels, solar shingles, and energy storage devices.

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Disclosure: None.