Tesla analyst revisions and ratings:
Bank of America (BofA) upgraded Tesla from Neutral to Buy, with a price target (PT) of $220.
Morgan Stanley reiterated its Overweight rating on Tesla, maintaining a PT of $310.
RBC Capital also reiterated its Outperform rating on Tesla, with a PT of $293.
Among the revisions:
Citi increased its PT for Tesla to $182 from $180.
Guggenheim raised its PT to $126 from $122.
Wedbush lowered its PT to $275 from $300.
HSBC has reduced its price target for Tesla from $138 to $120.
Canaccord Genuity reduced its PT to $222 from $234.
UBS downgrades Tesla’s price target to $147, maintaining a Neutral rating.
Mizuho cut its PT to $180 from $195.
UBS adjusted its PT downward to $147 from $160.
Truist Securities and Barclays both lowered their PTs to $162 from $176.
Oppenheimer reiterated its Perform rating.
Needham reiterated its Hold rating.
Additionally:
Roth/MKM maintained its Neutral rating on Tesla, with a PT of $85.
DZ Bank has lowered Tesla’s price target to $140 from $170, advising to sell.
Deutsche Bank has increased Tesla’s price target to $136 from $123, suggesting to hold onto the stock.
Key median, highest, and lowest price target changes:
Median PT now stands at $181, down $6.5 from the previous figure of $187.5.
The highest PT remains at $310.
The lowest PT remains at $85.
Morgan Stanley Analyst Adam Jonas’ analysis on Tesla:
Adam Jonas, analyst at Morgan Stanley, has reaffirmed an “Overweight” rating on Tesla, with a price target (PT) of $310.
Valuation components:
a. Tesla’s mobility segment is valued at $61/share, assuming around 158k cars generating $1.8 per mile by 2030.
b. The core auto business is valued at $67/share, projecting 6.1 million units by 2030 with an 18.4% EBITDA margin, using a 13x 2030 exit EBITDA multiple and a 9.0% weighted average cost of capital (WACC).
c. Third-party supplier contributions are estimated at $39/share.
d. The energy business is valued at $40/share.
e. Insurance operations are valued at $5/share.
f. Network services are estimated at $100/share, based on projections of 15.4 million monthly active users (MAUs) and $180 average revenue per user (ARPU) by 2030, discounted by 50%.
