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Tesla's Path To $400: Bank Of America Highlights EV, AI Growth

Benzinga ·  Dec 6, 2024 00:30

Bank of America significantly raisedTesla Inc's (NASDAQ:TSLA) 12-month price target from $350 to $400, maintaining a Buy rating as the investment bank bets on the company's ability to balance strong near-term growth in electric vehicles with bold long-term plays in autonomous driving and robotics.

In a note to clients Thursday, analyst John Murphy highlighted his optimism following a recent visit to Tesla's Gigafactory in Austin, Texas.

"The trip gave us increased confidence that Tesla is well-positioned to grow in 2025+," Murphy said, citing discussions with investor relations, a factory tour, and test drives that showcased...

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