Wedbush analyst Daniel Ives reiterated on Monday his $600 price target stance on Tesla, just hours after CEO Elon Musk confirmed that the company is testing Robotaxi rides without a safety operator inside the vehicle.
In a new research note, obtained by PriceTarget, Daniel Ives wrote that “heading into 2026, this marks a monster year ahead for Tesla and Musk as the autonomous and robotics chapter begins.”
According to the analyst, Wedbush expects “an accelerated Robotaxi launch across the US,” with Musk having stated last month that the next cities to receive the service will be Miami, Dallas, Phoenix and Las Vegas.
This suggests an expansion to at least three other states (Florida, Arizona, and Nevada) besides Texas and California, where the service is currently available.
The company is also expected to launch its Robotaxi in Colorado, where it recently listed several job positions, and in Massachusetts, as a vehicle was spotted undergoing testing in Boston in late November.
Additionally, Ives highlighted the “volume production of Cybercabs starting in the April/May timeframe,” which was revealed by the CEO in the latest Annual Shareholder Meeting.
The company will debut the recently patented ‘Unboxed’ manufacturing process in Cybercab production.
Through the process, Tesla aims to reach a five-second production time and could “theoretically” have a 5 million-unit yearly production.
$600 Price Target
On September 26, Ives had lifted the firm’s price target on Tesla by $100, justified by an “accelerated AI path.”
A day before, the stock closed at $423.39, which led the target to imply a potential upside of 41.7% on the share value.
By then, the analyst stated that “investors are underestimating the transformation underway at the company.”
He noted that it has “autonomous and robotics front and center heading into 2026,” which “will be a game changer and define Tesla‘s future” — an idea he reiterated this Monday.
Since then, Tesla‘s shares fluctuated, hitting a 2025 high of $474.07 in early November — just $14 below their all-time high of $488.54.
On Friday, the stock closed 2.7% higher at $458.96.
Based on the latest closing price, Wedbush sees an upside potential of 30.7%.
No Safety Drivers by Year-End
Tesla‘s CEO Elon Musk first said in September that the company aimed to remove safety operators in Austin, where they are present in the passenger seat, by year-end.
Since then, the chief executive reiterated the idea several times, referring to a removal in “at least large parts of Austin by the end of this year.”
On Sunday, the first Model Ys equipped with the Robotaxi FSD and no occupants inside the vehicle were spotted in Austin.
Musk later confirmed the reports on X, writing that “Testing is underway with no occupants in the car.”
Late last month, Musk said Tesla would double the number of Robotaxi vehicles operating in Austin in December, as the company faced “High Service Demand.”
