BofA Analyst Raises Tesla Price Target but Maintains Neutral Rating
Bank of America analyst Federico Merendi increased his Tesla price target to $471 from $341, citing accelerated progress in self-driving and robotics initiatives. The revised valuation assigns just 12% weight to Tesla's core automotive business, with Robotaxi (45%) and Optimus robot (19%) dominating future growth projections.
Merendi's neutral stance reflects market pricing of these growth catalysts. "The Robotaxi and Optimus segments demonstrate faster-than-expected technological maturation," the report noted, while emphasizing international expansion potential for Tesla's humanoid robot.