Key facts
- JP Morgan upgraded Tesla to 'neutral' from 'underweight'.
- The brokerage raised its price target on Tesla shares to $475 from $145.
- The upgrade cited Tesla's advancements in autonomous driving and robotics.
- JP Morgan warned that execution risks remain high for Tesla.
JP Morgan has upgraded its rating on Tesla shares to 'neutral' from 'underweight.' The firm stated that the electric-vehicle maker's valuation is increasingly influenced by its advancements in autonomous driving and robotics technologies. Consequently, JP Morgan raised its price target for Tesla stock to $475, a significant increase from the previous target of $145. Despite the positive outlook on future growth drivers, the brokerage cautioned that Tesla still faces substantial execution risks.