Another $400 Price Target Is Lifting Tesla’s Stock Today | Global News Avenue

Tesla stock (TeslaShares rose Thursday after another Wall Street analyst issued a bullish outlook on the electric car maker.

Bank of America analysts are part of the reason for today’s rally. While they maintained their “buy” rating on the stock, they raised their price target by $50 to $400, well above the Visible Alpha average of about $280 and 12% above Wednesday’s closing price. The target is one of the top targets tracked by Visible Alpha, matching another posted target Wedbush last month.

Bank of America analysts wrote that Tesla is “positioned for growth in 2025 and beyond,” citing opportunities ranging from its core electric vehicle business to robotaxis, robotics, software and charging.

Tesla shares have recently risen about 4% and are up about 50% for the year, but are still slightly below their 2024 highs.

The company may seek to raise capital to fund some of those operations, analysts wrote.

“We expect Tesla to deploy capital efficiently and effectively, as evidenced by the company’s focus on organic cash generation,” Bank of America wrote. “That said, at some point, raising capital to accelerate the deployment of these technologies It might make sense to develop.”