The bank abandons a bearish stance, raising Tesla’s target from $145 amid shifting investor focus to autonomy and robotics.
JPMorgan upgraded Tesla to neutral from underweight, raising its price target to $475 from $145. The move ends a long-standing bearish outlook that had forecast a 65% decline for shareholders.
Analyst Rajat Gupta, who recently took over coverage, cited Tesla’s vertical integration in hardware and software as a key advantage. The bank noted investor sentiment has shifted toward Tesla’s emerging businesses, including autonomous ride-hailing and AI chip development, rather than its automotive sales.
The new target reflects valuation models spanning five segments: cars, energy storage, robotics, AI chips, and software revenue streams.