Tesla: BofA raises target price

(CercleFinance.com) - Bank of America on Thursday renewed its Buy recommendation on Tesla, while raising its price target on the stock from $350 to $400 (cp: $369.
5, +3.2%).

The US broker says that it emerged from a recent visit to the Gigafactory Texas, the group's global headquarters, with reinforced confidence in the company's growth potential.

In addition to its positioning for growth in the electric vehicle market and the forthcoming launch of its robotaxi project, the broker says it sees potential in a long-term perspective with the Optimus robot, as well as a possible improvement in margins with the adoption of 100% autonomous driving (FSD).


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