Tesla’s Bull Run Continues: Analysts Raise Price Targets
Tesla (NASDAQ: TSLA) has been on a roll lately, with several bullish events in recent weeks that have prompted analysts to revise their price targets. The electric vehicle (EV) giant has not only posted record deliveries in Q3 but has also rolled out its most advanced Full Self-Driving (Supervised) update in a year.
The new FSD v14.1 update has been a significant step forward, with features that are reminiscent of a Robotaxi. Analysts at TD Cowen, Stifel, and UBS have taken note of these developments and adjusted their price targets accordingly.
TD Cowen Raises Price Target to $509
TD Cowen has increased its price target for Tesla shares from $374 to $509, citing several factors, including the company’s positive deliveries report for Q3 and its commitment to keeping CEO Elon Musk at the helm. The analyst firm believes that Musk’s leadership is crucial to Tesla’s success and that his pay package is a positive development.
Stifel Sees $483 Price Target
Stifel has also raised its price target on Tesla from $440 to $483, citing the improvements made to the FSD suite. The analyst firm believes that FSD v14.1 is a significant advancement and that future updates will continue to drive progress. Stifel has broken down the value of Tesla’s FSD suite to $213 per share, with Robotaxi and Optimus valued at $140 per share and $29 per share, respectively.
UBS Remains Cautious Despite Raising Price Target
UBS has maintained its ‘Sell’ rating on Tesla shares but has increased its price target from $215 to $247. The analyst firm acknowledges the positive deliveries report and Tesla’s potential in AI and autonomy but remains cautious due to the risks associated with Q4 deliveries.
Tesla’s Stock Performance
In the last month, Tesla shares have risen by 24%. The company’s bullish momentum is expected to continue, driven by its advancements in FSD and other areas. As analysts continue to raise their price targets, investors will be watching to see if Tesla can maintain its momentum.
