11:24 AM EDT, 10/11/2024 (MT Newswires) -- Tesla's (TSLA) robotaxi event on Thursday was "underwhelming" as the company's "capture value strategy" apart from selling Cybercab vehicles remains vague, limiting upside to shares, Oppenheimer said Friday in a note.

The company said Cybercabs would be for sale but did not introduce a user interface or any app, Oppenheimer said.

"We continue to see a window of opportunity for the company and believe the platform has significant capability, but found the event underwhelming as it did not address our underlying concerns on inefficiencies in learning cycles due to single sensor focus and potential performance limitations," Oppenheimer analysts said.

Tesla failed to provide an update on its low-cost vehicle production plans or showcase robotaxi or humanoid functionality in challenging circumstances, the analysts said. While some features of the humanoid robot were "impressive," it remains a "development stage effort" as of date, they added.

The analysts are looking into whether Tesla can pull its advantages in data collection and manufacturing cost into a dominant position in self-driving vehicles/service, according to the note.

Oppenheimer, which has a perform rating on the stock, expects Tesla shares to trade lower on the event.

Tesla shares were down 8.1% in recent trading.

Price: 219.37, Change: -19.40, Percent Change: -8.13