Wedbush ‘very positive’ about Tesla’s Cybercab event

Wedbush maintained an Outperform rating and $300 price target on Tesla shares following the company’s “We, Robot” event in Warner Brother Studios, saying the firm walked away from the event “very positive” around the Cybercab and autonomous path at Tesla. Seeing the Cybercab up close was “very impressive,” the analyst tells investors, and price points on this vehicle will create a fleet segment that could be a $10B annual business at scale over the coming years for Tesla. The firm adds that regulatory approval, insurance, and the specifics of the Cybercab launch will remain a debate on the Street and represent some timing challenges that Tesla will need to navigate into this next step of growth and future of transportation.