Morgan upgrades Tesla to Neutral, raises price target to $475
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Wall Street's most notable Tesla bear pivots to a robotics-and-AI thesis, tripling its price target in one of the largest single-day revisions in recent memory.
Key facts
Gupta projects Tesla’s revenue could reach approximately $203 billion by 2030, roughly doubling from around $95 billion in 2025
With shares trading around $418 and J.P. Morgan’s newly neutral target sitting at $475, the implied upside is modest
Analyst Rajat Gupta upgraded Tesla from Underweight to Neutral on June 5, slapping a $475 price target on the stock
Gupta is projecting that by 2030, nearly half of Tesla’s revenue will come from autonomous driving and robotics, sectors where Tesla currently generates minimal revenue
Summary
J.P. Morgan did something it hasn’t done in a long time: stopped betting against Tesla. Analyst Rajat Gupta upgraded Tesla from Underweight to Neutral on June 5, slapping a $475 price target on the stock. Gupta’s note argues that Tesla’s electric vehicle business is becoming a side plot. Gupta projects Tesla’s revenue could reach approximately $203 billion by 2030, roughly doubling from around $95 billion in 2025.