Tesla Rides Robotaxi Momentum into Earnings Season
Tesla Inc. heads into its second-quarter earnings report with strong momentum from its robotaxi service expansion, according to a Bank of America analysis. The bank reiterated a Buy rating and $460 price target, citing rapid fleet scaling, delivery numbers that beat Wall Street estimates, and upcoming milestones for the Optimus humanoid robot. Tesla now operates robotaxis in five markets after a July 3 launch in Miami, with four more markets in preparation. Its Texas fleet grew to 175 vehicles, the fastest among tracked operators, with no serious injuries reported. Tesla delivered approximately 480,000 vehicles in Q2, up 25% year-over-year and above consensus estimates of 406,000, gaining BEV market share. Bank of America also highlighted Optimus production targets for late July/August at Fremont, a potential Gen 3 reveal, and a 25 GWh energy storage deal with NatPower. The bank views Tesla as in early stages of monetizing autonomy capabilities.
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