Piper Sandler on [Share Link: @Tesla] : "Investors have grow...

Piper Sandler on @Tesla : "Investors have grown accustomed to ignoring Tesla's hyperbole around full self-driving. However, judging by reviews on X, Tesla's update to version 12.5 is "revolutionary." The firm thinks investors should consider the possibility that Tesla's decision to host a robo-taxi event October 10 "isn't a ploy to distract from falling EV sales." Rather, it could catalyze a realization that full self-driving matters more than anything else for Tesla. The firm expects self-driving take- rates to "inflect sharply upward" starting around 2030, and that by the end of its 20-year forecasting period, Piper expects 100% fleet-wide FSD adoption for Tesla. It also expects FSD subscription prices to eventually rise from $99 per month to over $500. Tesla will eventually sell electric vehicles for $31,000 apiece at 0% gross margin, but ultimately, "just like cheap flip-phones, we don't think anyone will buy non-FSD cars," Piper writes. It tells investors to Buy $TSLA shares and keeps an Overweight rating on the name with a $300 price target."