Benchmark analyst Mickey Legg has issued a 'Buy' rating for Tesla shares, setting a price target of $475, based on a growth outlook driven by initiatives in autonomous driving, robotics, and energy generation. Tesla's plan includes launching a new affordable vehicle in early 2025, offering unsupervised full self-driving services in Austin by June, and ramping up Optimus robot production. Although current models focus primarily on vehicle growth, there’s significant potential for upside if Tesla's other projects scale successfully, supported by a strong management team and market leadership.
"The company has outlined a path for growth with a more affordable vehicle scheduled for 1H25, unsupervised full self-driving as a paid service this June in Austin, TX, and Optimus robot production ramp through 2026 and beyond," the analyst stated.
"Tesla's market leadership, near-term catalysts, strong management, and diversified business justify the stock's market premium," Legg noted.
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