Future Fund LLC's managing director, Gary Black, set a $310 price target for Tesla Inc. (NASDAQ:TSLA) ahead of the company's Robotaxi launch in Austin on June 22.
What Happened: The investor gave a breakdown of positive and negative factors that could affect Elon Musk's EV giant's stock performance in a post on social media platform X on Tuesday.
As far as positive catalysts go, the investor shared that the Trump administration's decision to "streamline" federal processes will allow Tesla to "secure general unsupervised autonomy license nationally," he said.
Other factors include an affordable model in the company lineup, as well as possible FSD licensing opportunities. Black also outlined the Cybercab as well as the Optimus line of humanoid robots, both of which are slated for a 2026 production date.
However, he did highlight some negative factors as well, like the government axing the $7500 EV credit, as well as the failure to update the lineup and reliance on discounts. "Trump admin restricts state efforts to control carbon emissions, which could significantly reduce TSLA ZEV sales," Black said.
The investor also highlighted Tesla's declining EPS as well as delivery estimates for 2025 as a negative factor. "TSLA 2025 P/E of 170x too high relative to FY'25-';30 EPS growth of +25% CGR. Avg forward P/E past 3 years 80x," Black said.
Why It Matters: The investor's thoughts come as Tesla, which is reportedly shutting down its Texas gigafactory over the Fourth of July weekend, is preparing for its Robotaxi launch. The company was recently also officially named as an AV operator in Austin.
In what could prove to be a boost for Tesla, Senate republicans have axed the $250 annual fee on EV owners from their tax bill proposal despite U.S. President Donald Trump's anti-EV push.
Elsewhere, recent data shows that Tesla's vehicles cost 1/7 that of Robotaxi rival Alphabet Inc.'s (NASDAQ:GOOGL) (NASDAQ:GOOG) Waymo and that the EV giant has collected data from over 3 billion miles.
Tesla scores well on Momentum, Quality and Growth metrics, but offers poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!
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