Bank of America raised Tesla's price target to $400, citing growth in EV, AI tech. Analyst optimistic after visiting Gigafactory in Austin. FSD improvements bolster Robotaxi prospects.

Unusual Whales
2024.12.05 20:27
Bank of America has increased Tesla's 12-month price target from $350 to $400, maintaining a Buy rating. Analyst John Murphy expressed optimism after visiting Tesla's Gigafactory in Austin, Texas, where he saw the company's potential for growth in 2025+. Tesla's Full Self-Driving (FSD) technology impressed during the test drive, showing significant improvements. The technology is expected to require minimal intervention soon, boosting Robotaxi prospects. Murphy's positive outlook is based on Tesla's strong near-term growth in electric vehicles and long-term ventures in autonomous driving and robotics.
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