Tesla CyberCab launch event ‘underwhelming’, says Roth MKM

Roth MKM keeps a Neutral rating and $85 price target on Tesla following the company’s “underwhelming” CyberCab event promising to launch the vehicle at around $30,000 starting sometime in 2026. The vehicle that navigated the Warner Brothers lot where the event took place had no steering wheel or evident controls, but the firm expects the Model 3 and Model Y vehicles that are starting unsupervised-FSD trials in California and Texas next year to still have all these controls, the analyst tells investors in a research note. The event is being viewed as a “disappointment” as Tesla offered “limited evidence” that unsupervised-FSD is credible in an optical-only system, Roth added.