Another $400 Price Target Is Lifting Tesla’s Stock Today

Shares of Tesla (TSLA) rose Thursday after one other Wall Street analyst issued a bullish outlook for the EV maker. 

Bank of America analysts had been a part of the explanation for at the moment’s good points. While they maintained a “purchase” ranking on the shares, they lifted their worth goal by $50 to $400, effectively above the Visible Alpha common round $280 and 12% above Wednesday’s shut. The goal is among the many highest tracked by Visible Alpha, matching one other posted final month by Wedbush.

Tesla “is well-positioned to develop in 2025” and past, the Bank of America analysts wrote, citing alternatives starting from its core EV enterprise to robotaxis, robotics, software program, and charging.

Tesla’s inventory was not too long ago forward some 4%, leaving it up roughly 50% for the yr although nonetheless a bit under 2024 highs.

The firm would possibly look to lift cash to fund a few of these companies, the analysts wrote. 

“We count on (Tesla) to effectively and successfully deploy capital, as the corporate has demonstrated with its concentrate on natural money era,” Bank of America wrote. “That stated, there might be a degree at which it might make sense for it to lift capital to speed up the event of those applied sciences.”