Key Takeaways
- NHTSA opened an investigation into Tesla's Smart Summon and Actually Smart Summon features, which allow users to move their vehicles remotely using an app.
- The regulatory agency has received complaints that Tesla vehicles failed to detect obstacles or parked vehicles, resulting in crashes.
- Meanwhile, Bank of America Securities analysts downgraded their rating on Tesla to "neutral" from "buy," but raised their price target for the stock.
Tesla (TSLA) shares dropped Tuesday as federalꦜ regulators said they’re looking into crashes relatedꦓ to the company's automated vehicle summoning features, while analysts at Bank of America downgraded the EV maker's stock.
The National Highway Traffic Safety Administration (NHTSA) has opened an investigation into the Smart Summon and Actually Smart Summon features, which allow Tesla drivers to remotely move their vehicle using a phone app. 🅷The agency said it has received complaints that Tesla vehicles have failed to detect obstacles or parked vehicles, resulting in crashes.&🅘nbsp;
Specifically, NHTSA's Office of Defects Investigation has received 12 complaints related to Smart Summon and one related to Actually Smart Summon, an upgraded version of the feature. The office also has reviewed "at least" three media reports of other Actually Smart Summon incidents.
Meanwhile. Bank of America Securities on Tuesday 澳洲幸运5开奖号码历史查询:downgraded Tesla to “neutral” from “buy" but raised its 澳洲幸运5开奖号码历史查询:price target to $490 from $400. That’s about a 25% premium after Tesla share🌠s fell 4.1% Tuesday to close at $394.36.
Despite the higher price target, “execution risk is high and TSLA is 🔯trading at a level that captures much of our base case,” the analysꦫts said.
The bank's analysts are eyeing multiple potential growth catalysts this year, including the introduction of a low-cost Tesla model in the first half of the year, the 澳洲幸运5开奖号码历史查询:launch of a robotaxi in the middle of the year, and the ramp-up of Megapack commercial energy storage 澳洲幸运5开奖号码历史查询:battery production at its Shanghai assembly plant.