JPMorgan Upgrades Tesla to Neutral, Raises Price Target to $475 on Strong Long-Term Outlook for Robotics and Autonomy

JPMorgan Chase has upgraded Tesla’s stock rating from “Underweight” to “Neutral” and raised its price target from $145 to $475. The bank noted that market focus is shifting away from Tesla’s current slowdown in its electric vehicle (EV) business toward the long-term growth potential of its newer ventures, including autonomous driving, humanoid robots, AI chips, and software services. According to analyst Rajat Gupta and his team, Tesla’s vertically integrated capabilities across both hardware and software have not yet been fully appreciated by the market but have already laid a unique foundation for its future growth. They project Tesla’s revenue will rise from approximately $95 billion in 2025 to over $203 billion by 2030, with nearly half of this incremental growth coming from autonomous driving, robotics, and related emerging businesses. On profitability, JPMorgan forecasts that Tesla’s earnings per share (EPS) will turn a corner after 2028, increasing from around $1.95 in 2026 to $7.50 by 2030. The company’s business is segmented into five key areas: automotive, energy storage, robotaxis, humanoid robots, and infrastructure licensing. Combined, these segments are expected to represent a total addressable market of $3.9 trillion by 2035. The bank also cautioned that Tesla still faces execution risks related to regulatory approvals, safety certifications, and the large-scale commercialization of new technologies. Currently, among analysts covering Tesla, 24 have issued Buy or higher ratings, 23 maintain Hold ratings, and 7 have assigned Sell or lower ratings.