Tesla (NASDAQ: TSLA) is surging in pre-market hours on June 20, up 1.18% to $325.85, well above Barclays’ freshly reiterated $275 price target.
The call, issued by analyst Dan Levy, reflects an “Equal Weight” rating and implies nearly 16% downside from current levels, raising eyebrows ahead of Tesla’s high-stakes robotaxi launch on June 22.
Levy expects Tesla to report 375,000 deliveries for Q2, a notable miss versus the 400,000 consensus. While that might trigger concern in a different quarter, investors appear to be shrugging off short-term delivery risk and instead positioning for what could be a pivotal moment in Tesla’s long-term strategy.
Tesla Robotaxi launch
The real focus, he argues, now shifts to Elon Musk’s June 22 robotaxi event, where Tesla is expected to provide a first official look at its next-generation autonomous vehicle platform. While the company has teased robotaxi ambitions for years, this will mark the first concrete product launch, and could significantly shift investor sentiment, particularly if full self-driving (FSD) timelines or regulatory clarity are addressed.
Markets may be positioning early for a “buy the rumor” set up ahead of the robotaxi launch especially as Texas lawmakers urge Tesla to delay Austin robotaxi launch to September. Whether the actual event delivers, or disappoints, could define Tesla’s trajectory through the second half of 2025.
