Tesla stock price target maintained at $355 by Cantor Fitzgerald

Cantor Fitzgerald reiterated its Overweight rating and $335 price target for Tesla, citing strong conviction in the company's long-term potential in autonomous driving and the high-margin Robotaxi segment, even as the stock trades above its fair value with a 173 P/E. This bullish stance persists despite recent Q2 2025 vehicle deliveries and production falling below prior year figures and analyst expectations, alongside ongoing U.S. sales challenges prompting discounts, though the upcoming Model YL launch in China offers a modest positive.

Analysis

Cantor Fitzgerald's reiterated 'Overweight' rating and $335 price target on Tesla presents a long-term bullish thesis that contrasts sharply with the company's current operational headwinds. The firm's optimism is primarily rooted in the future potential of a high-margin, software-as-a-service model from its autonomous Robotaxi segment. However, this forward-looking view is challenged by recent performance metrics; Q2 2025 vehicle deliveries of 384,122, while meeting consensus, were down from the prior year, and production of 410,244 vehicles fell short of analyst expectations. These results underscore the revenue pressures that have prompted Tesla to introduce sales incentives in the U.S. and appoint a new executive to lead its sales team. While the upcoming launch of the Model YL variant in China is viewed by Goldman Sachs as an 'incremental positive,' it may not be sufficient to offset the broader challenges, especially given the stock's elevated P/E ratio of 173 and indications that it is trading above its fair value.

Key Decisions for Investors

• Investors should weigh the long-term growth narrative, heavily dependent on the yet-to-be-commercialized Robotaxi segment, against tangible short-term risks evidenced by declining year-over-year deliveries and production shortfalls.
• The stock’s high valuation, reflected in a 173 P/E ratio, warrants caution as it suggests significant future growth is already priced in, increasing vulnerability to any further operational disappointments.
• Monitor key near-term indicators including the effectiveness of U.S. sales incentives and the initial market reception of the new Model YL in China to gauge the company's ability to navigate current demand pressures.