Citizens Analyst Maintains Ratings on Tesla and Uber Following Robotaxi Permits
On August 24, Citizens analyst Andrew Boone reaffirmed his Market Perform rating for Tesla (NASDAQ: TSLA) and Market Outperform for Uber Technologies Inc (NYSE: UBER), with a $100 price target. This decision followed the granting of robotaxi permits to Tesla, Uber subsidiary Aviari Services, and Waymo by Nevada regulators. The approval allows these companies to operate fully autonomous vehicle services in Clark County under specific conditions. Tesla was permitted up to 5,000 autonomous vehicles within its first year, while Uber and Waymo each received authorization for 1,000 units. Despite the regulatory green light, concerns from traditional taxi operators about congestion persist. Tesla's actual deployment is expected around half of this ceiling at approximately 2,500 units. For Uber, which partners with autonomous firms like Pony.ai in Europe and Verne to operate fleets, the analyst sees potential for significant growth as commercial supply ramps up on its platform by late 2026. However, challenges remain, including the need for a safety operator in Zagreb's robotaxi service.
Topics: Nevada Transportation Authority robotaxi self-driving cars Tesla Uber