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<Research> Daiwa Cuts TESLA (TSLA.US) TP to USD395, Expects USD11B Free Cash Flow Burn This Year
Daiwa said in a research report that TESLA (TSLA.US) is making slow but steady progress across several core initiatives, including Robotaxi, humanoid robot Optimus and Full Self-Dr...
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<Research> Daiwa Cuts TESLA (TSLA.US) TP to USD395, Expects USD11B Free Cash Flow Burn This Year
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Daiwa said in a research report that TESLA (TSLA.US)      is making slow but steady progress across several core initiatives, including Robotaxi, humanoid robot Optimus and Full Self-Driving (FSD). Although the recent rise in oil prices is supportive of electric vehicle demand, the company believes its future differentiated competitive advantage will stem from "autonomous driving" rather than purely from powertrain systems.

The broker raised its 2026 EPS forecast from USD1.75 to USD2.05, factoring in the potential positive impact of tariff credits over the next few quarters. However, it expects the company to continue burning USD11 billion in free cash flow this year, with capital expenditure reaching USD25 billion. It forecasts capital expenditure to decline to USD15 billion in 2027, when free cash flow is expected to break even.

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Daiwa added that the companys valuation is likely to remain under pressure in the near term, given the slower rollout of Robotaxi, weak electric vehicle demand and ongoing cash burn. Nevertheless, it believes the company maintains a two- to three-year lead in autonomous driving, and that the enhanced FSD package has the potential to drive market share gains. Taking into account cash flow pressure and Robotaxi progress, Daiwa lowered its TP from USD420 to USD395 and maintained a Neutral rating. (ss/da)(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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