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JPMorgan’s bullish turn on Tesla is rooted in the firm’s belief that the company is evolving far beyond its electric vehicle business.
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The firm argued that Tesla sits at the forefront of “physical AI” and is beginning to address entirely new, largely untapped markets.
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Looking ahead, JPMorgan forecasts an earnings inflection point for Tesla in 2028, followed by roughly 50% annual earnings growth through 2030 and beyond.
Tesla Inc. (TSLA) shares received a major vote of confidence from JPMorgan on Friday, as the firm more than tripled its TSLA price target.
According to TheFly, JPMorgan hiked its price target for Tesla to $475 from $145, while upgrading the stock to ‘Neutral’ from ‘Underweight’.
