Tesla stock surged last week after Bank of America increased its price target from $350 to $400, citing a bullish outlook for the company’s low-cost electric vehicles (EVs) and robotaxi services. Lead analyst John Murphy maintained his “Buy” rating, following a visit to Tesla’s Giga Austin facility to assess the company’s direction.
The new EV is expected to expand Tesla’s market opportunity by improving battery density and economies of scale. Murphy also linked Full Self-Driving (FSD) software to margin movers, citing high levels of competence in Model Y and Cybertruck scenarios.
Tesla plans to manufacture 2 million vehicles annually by 2026 and deploy Optimus humanoid robotics at work, with 1,000 units planned for installation at Giga Austin by 2025. Bank of America sees Optimus as a growth driver before the decade’s end, while Musk considers it an important product with enormous potential.
The stock has risen 53% since November, driven in part by the crypto connection with Tesla and the Bitcoin craze. However, analysts’ opinions on Tesla’s value vary widely, with some downgrading their ratings but raising targets, while others maintain a “Buy” rating. The consensus target across analysts stands at $248.56, but there is significant disparity among forecasts.
Source: https://finance.yahoo.com/news/teslas-next-big-thing-low-094402771.html