Tesla Analyst Says Full Self-Driving 'Matters More Than Anything Else,' Latest Version Is 'Revolutionary,' Will Take Stock To $300
Tesla Analyst Says Full Self-Driving 'Matters More Than Anything Else,' Latest Version Is 'Revolutionary,' Will Take Stock To $300
Piper Sandler believes Tesla Inc (NASDAQ:TSLA) may have solved the autonomous vehicle puzzle. Despite CEO Elon Musk's track record of overpromising, the analyst highlighted the latest version of Tesla's Full Self-Driving as the real deal.
派傑投資認爲特斯拉（納斯達克：TSLA）可能已經解決了自動駕駛汽車的難題。儘管CEO Elon Musk一貫言過其實，但該分析師強調了特斯拉最新版本的全自動駕駛技術是真正的問題解決方案。
What Happened: Piper Sandler analyst Alexander Potter maintained Tesla with an Overweight rating on Sunday, noting that recent advancements in the EV maker's Full Self-Driving technology appear to be underappreciated.
經濟學家Alexander Potter在週日保持對特斯拉的股票的超配評級，指出新近的電動汽車製造商全自動駕駛技術的進展似乎被低估了。
Based on recent reviews on the X social media platform, the Piper Sandler analyst believes the latest Full Self-Driving software from Tesla, version 12.5, is "revolutionary."
基於最新的社交媒體平台X的評價，派傑投資的分析師認爲特斯拉的最新全自動駕駛軟件，即版本12.5,"是革命性的"。
"We think investors should consider the possibility that Tesla's decision to host a robo-taxi event (October 10th) isn't a ploy to distract from falling EV sales. Instead, it could catalyze a realization that FSD matters more than anything else," Potter said in a note to clients this week.
"我們認爲投資者應該考慮這種可能性：特斯拉舉辦機器人出租車活動（10月10日）並不是一種旨在轉移注意力的策略，而是可能激勵人們認識到全自動駕駛比其他任何事情都更重要，"波特本週在給客戶的一份報告中表示。
Tesla shares are down nearly 7% year-to-date. Despite reporting a couple of weak quarters, Musk has downplayed the results and shifted investor attention toward his vision for the future around AI, Full Self-Driving and robotaxis.
特斯拉的股票年初以來下跌近7％。儘管報告了幾個弱季度，Musk淡化了結果並把投資者的注意力轉向了圍繞人工智能，全自動駕駛和機器人出租車的未來願景。
Potter argues that Musk's focus is in the right place. A majority of Piper Sandler's price forecast is based on Full Self-Driving revenue assumptions. If you take Full Self-Driving out of the equation, Piper Sandler's model implies fair value of just $77 per share.
波特認爲，馬斯克的焦點是正確的。派傑投資的大部分價格預測都基於全自動駕駛的收入假設。如果你把全自動駕駛排除在外，派傑投資的模型意味着每股公平價值只有77美元。
"If investors own TSLA at this valuation, we think they must implicitly believe in FSD," Potter said.
"如果投資者以這個估值擁有TSLA股票，我們認爲他們必須內在地相信全自動駕駛技術,"波特說。
The Piper Sandler analyst expects Full Self-Driving take-rates to inflect "sharply upward," beginning around 2030. The analyst further anticipates approximately 100% fleet-wide Full Self-Driving adoption in 20 years.
派傑投資的分析師預測，從2030年開始，全自動駕駛的佔有率將迅速上升。該分析師進一步預測，在20年內，全自動駕駛的採用率將達到大約100％。
Further adding to the analyst's Full Self-Driving thesis, Potter expects subscription prices to eventually rise to more than $500 per month, up from the current price of $99 per month.
此外，波特還預計，隨着時間的推移，訂閱價格將最終上漲到每月500美元以上，而不是當前價格每月99美元。
"We also think Tesla will eventually sell EVs for ~$31k apiece, at 0% gross margin ... but ultimately, just like cheap flip-phones, we don't think anyone will buy non-FSD cars," Potter said.
"我們也認爲，特斯拉最終將以每台約3.1萬元的價格出售電動汽車，並且沒有毛利，請記住，就像便宜的翻蓋手機一樣，我們認爲沒有人會購買非全自動駕駛汽車，"波特說。
Potter expects Tesla's Full Self-Driving to be a major driver of margin expansion, starting in the late 2020s, as he anticipates 90% gross margin on Full Self-Driving-related revenue. Piper Sandler has a price target of $300 on Tesla shares.
波特預計，特斯拉的全自動駕駛將成爲利潤擴張的主要驅動力，自2020年代末開始，他預計，全自動駕駛相關的收入將實現90％的毛利率。派傑投資的特斯拉股票價格目標爲300美元。
TSLA Price Action: Tesla shares were up 5.65% at $232.22 at the time of publication Monday, according to Benzinga Pro.
根據Benzinga Pro的報道，本文發表時，特斯拉的股票上漲了5.65％，達到232.22美元。
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Photo: Courtesy of Tesla.
照片：特斯拉的彩色圖片。