Tesla is riding a wave of bullish upgrades on Wall Street, with analysts showing strong confidence in the EV giant’s future. This surge in optimism has helped increase Tesla’s stock price and market valuation, making investors see green.
One of the major catalysts for this positive outlook is Tesla’s recent release of FSD 13.2 to limited testers, as well as the announcement of its annual holiday software update. These developments have analysts, including former Tesla bears, seeing a major upside for the company.
Roth MKM made headlines by upgrading Tesla to a “Buy” rating from “Neutral” and raising its price target from $85 to $380. The firm cited numerous positive catalysts, including Elon Musk’s alignment with President-elect Donald Trump, which could potentially double Tesla’s pool of enthusiasts among conservative voters.
Stifel analyst Stephen Gengaro set the highest price target on Wall Street at $411, maintaining a “Buy” rating. He highlighted Tesla’s full self-driving capabilities and the planned Cybercab robotaxi service, set for late 2025, as key drivers for the company’s growth. Gengaro believes Tesla’s value creation potential from AI-based self-driving technology is a significant factor in its positive outlook.
Even long-time Tesla skeptic Craig Irwin has turned bullish on the company, reversing his stance from a bearish $85 price target to a “Buy” rating with a $380 price target, matching Roth MKM’s target. This shift in sentiment marks a significant vote of confidence in Tesla’s growth potential.
Based on Gengaro’s target, Tesla’s valuation could reach $1.3 trillion, reflecting the strong belief in the company’s future prospects. As of writing, Tesla’s shares are up 3% for the day, trading at $355 per share.
Overall, the bullish upgrades from analysts reflect the growing confidence in Tesla’s leadership, strategic positioning, and potential for future growth in the electric vehicle market. Investors are eagerly watching to see how Tesla will continue to innovate and expand its market presence in the coming years.