Tesla shares (NASDAQ:TSLA) have received a “Buy” rating and a $475 per share price target from Benchmark.
Benchmark’s price target is based on 68.2 times its 2028 earnings before interest, taxes, depreciation, and amortization (EBITDA), as noted in a Morningstar report.
Tesla rating:
In a note to clients, Benchmark analyst Mickey Legg noted that Tesla has outlined a path towards more growth through several of its initiatives.These include Tesla’s work in autonomous driving systems, robotics, and energy generation.The company could also make more headway into the electric vehicle segment.“The company has outlined a path for growth with a more affordable vehicle scheduled for 1H25, unsupervised full self-driving as a paid service this June in Austin, TX, and Optimus robot production ramp through 2026 and beyond,” the analyst stated.
$TSLA +1.8% pre-mkt as Benchmark initiates TSLA with a Buy rating and $475 price target. pic.twitter.com/KT6BTTW5kJ
— Gary Black (@garyblack00) February 12, 2025
More potential:
While he sees potential in Tesla, the Benchmark analyst noted that his current model only incorporates vehicle growth. Thus, there could be “significant potential upside” if the company’s autonomous vehicle program and Optimus are scaled.“Tesla’s market leadership, near-term catalysts, strong management, and diversified business justify the stock’s market premium,” Legg noted.
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