Tesla's recent Q1 earnings report did not meet analyst expectations, but Cantor Fitzgerald suggests that much of the negative sentiment may already be reflected in the stock price.

The company's stock has been adversely affected by macroeconomic uncertainty, CEO Elon Musk's political involvement, and concerns over potential losses of EV tax credits under the Trump administration.

As a result, Tesla's stock has fallen approximately 37% from its year-to-date high, raising alarms among investors.

However, analysts believe that as Musk reduces his political distractions, global confidence in the Tesla brand could rebound, potentially enhancing stock performance.

Cantor Fitzgerald remains optimistic, forecasting that the upcoming launch of robotaxi operations in June could provide a significant boost to Tesla's stock value.

They have set a price target of $355 for Tesla stock, indicating a potential upside of nearly 30% from current levels.

Despite this bullish outlook, the broader consensus rating for Tesla is currently 'Hold', with a mean price target of $285, which is lower than its current trading price.

In addition to these developments, Tesla is reportedly gearing up to start production of a new all-electric crossover, the 'E80', which may be a seven-seater version of the Model Y with an extended wheelbase.

If production of the E80 begins next month, it could alleviate concerns about Tesla's slow rollout of new products and positively influence TSLA's stock performance.