BofA Securities analyst John Murphy reiterated a Buy rating on Tesla Inc (NASDAQ:TSLA) with a price target of $220.
The re-rating reflected Tesla’s first-quarter commentary and results along with near-term catalysts for the stock, including the China breakthrough reports, the August Robotaxi event, a new product launch by early 2025, and the potential licensing of FSD. Further, Murphy added that TSLA would benefit should EV demand recover.
Also Read: Tesla’s Robotaxi Plans: Potential Threat Or Future Partner For Uber?
Recent reports indicated that Tesla received China’s approval to launch its Full Self-Driving (FSD) technology in the country.
China is the world’s largest automotive market in terms of new vehicle sales, and if confirmed, this approval will enable TSLA to deploy its FSD driver-assistance system there.
Murphy added that TSLA is also the only Western manufacturer to…
