/Tesla%20charging%20station%20black%20background%20by%20Blomst%20via%20Pixabay.jpg)
Tesla (TSLA) is in focus this morning after rumors emerged over the weekend that the automaker plans on beginning production of a new all-electric crossover that it’s internally calling the “E80.”
According to recent reports, the said vehicle could be a seven-seater variant of the company’s best-selling Model Y with an extended wheelbase.
If this proves true, and production of the “E80” does indeed begin next month as rumored, it may help alleviate some of the concerns around TSLA being a laggard in introducing new products.
Tesla stock is currently down some 37% versus its year-to-date high.
What Could Drive the Tesla Stock Price in the Near-Term?
Macroeconomic uncertainty remains a significant overhang on Tesla stock in 2025.
CEO Elon Musk’s involvement in politics, and concerns that President Donald Trump will cancel EV tax credits have weighed on the TSLA share price this year as well.
But none of it has succeeded in making Cantor Fitzgerald change its view on the EV stock. Analysts at the firm remain bullish on Tesla, expecting the launch of its robotaxi operations in June to unlock significant further upside in its share price.
Their $355 price target on Tesla stock indicates potential upside of nearly 30% from here.
Cantor Says Confidence in the TSLA Brand Will Rebuild
Cantor Fitzgerald recommends owning Tesla shares at current levels also because Musk recently announced plans of stepping back from politics.
Global confidence in the Tesla brand will stage a remarkable comeback as Musk leaves the noise behind and commits to refocusing entirely on the EV maker, the firm’s analysts told clients in a research note today.
TSLA came in well below Street estimates for its Q1 last week, but much of the bad news is factored into the company’s stock price already, they added.
Cantor’s Optimism on Tesla is Not Very Widely Shared
Investors should note, however, that other analysts do not share Cantor’s optimism on Tesla stock, given the consensus rating on the EV maker currently sits at “Hold” only.
According to Barchart, analysts have a mean target of $285 on TSLA at writing, which is below its current trading price.
