JPMorgan upgrades Tesla to neutral with $475 target
JPMorgan’s new Tesla analyst, Rajat Gupta, has upgraded the stock from underweight to neutral and raised the price target from $145 to $475.
The upgrade implies approximately 13% upside from Tesla’s closing price of $418.45 the day before the note.
Gupta cited Tesla’s unique advantage in vertical integration across hardware and software products as the reason for the upgrade.
The change in outlook comes after JPMorgan’s previous bearish stance on the stock, with the former analyst implying roughly 60% downside with a $145 target.