Key facts
- JPMorgan upgraded Tesla to 'overweight' from 'neutral'.
- JPMorgan raised its price target on Tesla to $475 from $145.
- Analyst Rajat Gupta cited Tesla's position in physical AI and vertical integration.
- JPMorgan projects Tesla revenue of $203 billion by 2030.
- Erste Group upgraded Tesla to 'hold' from 'sell'.
JPMorgan has upgraded Tesla (TSLA) to 'overweight' from 'neutral', significantly raising its price target to $475 from $145. Analyst Rajat Gupta's bullish thesis centers on Tesla's leadership in physical AI, driven by its industrial-scale manufacturing and vertical integration across hardware and software. Gupta projects Tesla could achieve $203 billion in revenue by 2030, with robotaxi, Optimus, and FSD licensing contributing roughly half. He also anticipates Tesla could sustain up to 50% annual growth through 2030. In contrast, Erste Group upgraded Tesla to 'hold' from 'sell', acknowledging improving sales and margins but cautioning that the stock's high P/E valuation limits further price gains. Wall Street's consensus rating for Tesla is 'Moderate Buy', with an average 2027 price target of $404, implying a slight downside from current levels. The upgrade follows a meeting where JPMorgan CEO Jamie Dimon discussed SpaceX with Elon Musk.