Elon Musk, Tesla’s chief executive, unveiled the company’s first pickup Cybertruck on Thursday night, but Wall Street analysts were unfazed by its stunning look: “Tesla’s Cybertruck looks strange… It’s really weird. “
Bernstein analyst Toni Sacconaghi in “Mad Musk, Fury Road.” “Musk has warned investors that Tesla’s new pickup will be futuristic, just like the Cyberpunk movie Silver Wing Killer,” the investor briefing said. He’s really not kidding.”
Some analysts believe Cybertruck’s extraordinary appearance will be its main selling point.
Jed Dorsheimer, of Canaccord Genuity, said: “While the quality of the styling is always subjective, we believe that the unique and future-feeling design resonates with consumers, creating a steady demand. “
Sceptics, however, do not expect Cybertruck to be a major competitor to the pickup market. Companies such as Ford and General Motors “can breathe a sigh of relief, ” says Credit Suisse. Jeffrey Osborne, an analyst at Cowen, said: “Tesla seems eager to launch Cybertruck. “
“Musk has been passionate about his Silver Wing Killer inspired design for months, but we are still amazed by his futuristic attitude to the design and believe it will shatter his dreams,” Osborne said. “
Bernstein gave Tesla a flat broad-based rating with a target price of $325. Cowen gave Tesla a rating of just $190 behind the broader market.
Tesla’s shares plunged more than 6 percent on Friday. Ford shares rose more than 1 percent.