🚨 CFRA raised its $TSLA stock price target to $450 from $375, maintained BUY rating
The adjustment reflects the firm's optimism about Tesla's future, particularly in the area of autonomous driving technology. According to InvestingPro data, Tesla commands a significant market capitalization of $1.24 trillion, though it trades at a premium P/E ratio of 96x.
They attribute this momentum to Tesla's advancements in autonomous driving, which are seen as moving closer to realization. The recent FSD v13 release by Tesla, showcasing new capabilities such as autonomous parking at a route's end and initiating FSD from a parked state, supports CFRA's positive outlook.
CFRA's analysis suggests that these continuous enhancements in Tesla's autonomous driving technology could accelerate the process of obtaining a federal autonomous driving permit under the new administration. The transition team for President-elect Trump has indicated that establishing a federal framework for fully autonomous vehicles is a high priority for the Transportation Department.