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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