Bank of America reinstated coverage of Tesla with a Buy rating. The firm established a price objective of $460 for the electric vehicle manufacturer.
Analysts identified Tesla as the current leader in consumer autonomy. The bank expects Tesla to become a dominant player in the robotaxi service market. Tesla’s camera-only autonomous driving system offers lower costs than competitor technologies. This hardware approach enables more profitable scaling across the fleet.
A sum-of-the-parts analysis values the Optimus humanoid robot segment at more than $30 billion. Tesla shares rose 1.9% to $399.96 during premarket trading following the report.