JPMorgan upgraded Tesla to Neutral from Underweight. Analysts led by Rajat Gupta raised the price target 227% from $145 to $475. The bank now values Tesla based on long-term autonomous driving and robotics potential. This shift moves focus away from near-term electric vehicle earnings.
Analysts identified vertical integration across hardware and software as a key advantage. JPMorgan projects Tesla's earnings-per-share will nearly triple by 2030. Revenue is expected to more than double to approximately $203 billion. The valuation model now spans five interconnected markets including robotaxis and humanoid robots. Tesla shares fell marginally in pre-market trading despite the bullish outlook.