Tesla stock pops as Giga Austin visit has BofA bullish

Published On Dec 5, 2024, 12:27 PM

Tesla's stock is rising following bullish remarks from Bank of America (BofA) after a visit to its Giga Austin factory. BofA's lead analyst, John Murphy, expressed increased confidence in Tesla's growth potential from 2025 onwards, particularly due to plans for a low-cost electric vehicle (EV) expected to be launched by the first half of 2025 and the upcoming expansion of Tesla's robotaxi service. The price target for Tesla shares has been raised from $350 to $400. Murphy highlighted that Tesla's full self-driving (FSD) software shows promise for upcoming product offerings that could improve margins. Additionally, Tesla's humanoid robot, Optimus, is expected to play a significant role in future operations.

Read full article

Stock Forecasts

TSLAView TSLA chart on TradingView

Positive

Given the bullish sentiment from BofA and the positive developments in Tesla's product pipeline, including the low-cost EV and advancements in FSD technology, investor confidence in TSLA is likely to remain high. The increased price target and strong anticipated growth trajectory contribute to a favorable outlook.

Related News

Electric cars make up one in four sold in November

Dec 5, 2024, 9:46 AM

Sales of electric vehicles grow for the eleventh straight month as manufacturers offer steep discounts.

TSLA
F

Elon Musk is getting some (tentative) bipartisan interest as he heads to Capitol Hill

Dec 5, 2024, 4:00 AM

There are some stirrings of interest from across the aisle in the new extra-governmental 'Department of Government Efficiency' headed up by Elon Musk and Vivek Ramaswamy.

TSLA

Elon Musk pay defeat sets up a 2025 legal battle that could reach the Supreme Court

Dec 3, 2024, 2:56 PM

Tesla pledged to keep fighting for Elon Musk's $65 billion pay to be restored, a battle that could make it all the way to the highest US court.

TSLA