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Tesla's "Blade Runner" pickup truck can be so futuristic that it leaves buyers cold

Some of Wall Street were skeptical of Tesla Inc.'s new pickup, with the company's shares falling short this week, Tesla's first hike in the top US auto segment.


TSLA, -0.90%

stocks fell more than 1% on Monday, after a weekly gain of more than 4% over the previous week. CEO Elon Musk tweeted earlier this month that the pickup truck, which he called "cybercracking," would be unveiled Thursday in the Los Angeles area.

Musk called the truck a "pickup truck with a gun," "outside of a science fiction movie," and unrecognizable by pickup trucks that have been sold in recent decades.

Approximately one in every three cars sold in the United States are pickup trucks, and the Ford Motor Co. F-1

50, launched in 1948, has been the best-selling vehicle in the United States for more than a decade without any indication of this will soon be dethroned.

See also: Tesla's best-selling sedans get reliability from Consumer Reports

Wall Street has chosen to focus on the here and now.

"We expect to focus on how much actual design resonates with pickup buyers," said Emmanuel Rosner of Deutsche Bank in a note on Monday.

"Based on previous comments, starting price may be <$ 50,000, high-end versions may have 400-500 miles and acceleration 0-60mph <3.4 seconds, but very little is revealed about the actual design on a truck. "

There is a risk that the vehicle is so futuristic that it will not attract" traditional pickup buyers, leaving it a niche product of smaller volume, "says Rosner.

Related: Tesla Q3 is checked by analysts – and some don't like what they see

It may be a case of "once burned out": In March, Tesla had the compact SUV Y unveiled just before the first quarter results. this time and revealed renewed concerns about production problems. The stock fell 5% after the launch of Model Y.

"After the launch of the Model Y turns away from fears that it could turn into a Model 3, we expect a similar reaction from the truck," says Craig Irwin, an analyst at Roth Capital Partners.

"We do not expect the initial production of trucks until mid-2021, about a year after the Model Y fist was produced," says Irwin in a note. Tesla may also return from previous assumptions that Cybertruck "will start at less than $ 50,000 and with a range of 400, 500 miles," he said.

Read more: If Tesla and Ford Motor are about to wage war on the Crown of Electric Vehicles, you won't know it from this exchange.

Roth confirms its stock price target with a target price of $ 249. Deutsche Bank also maintained its stock rating on Tesla shares at a price target of $ 290.

On average, Tesla shares were rated as hold at a target price of $ 314.83, according to FactSet, which tracks 32 Tesla Wall Street analysts. The average price would be a 9% discount over Monday's prices.

Tesla shares gained 4.5% this year, compared to 24% and 20% gains for the S&P 500 Index

SPX, + 0.06%

and the Dow Jones Industrial Average.

DJIA, + 0.09%





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