Tesla (TSLA) rose on Monday following a rough week of losses, after investment bank Stifel raised its forecast for the stock. Analyst Stephen Gengaro raised his Tesla price target to $508 from $483, while maintaining his Buy rating on the stock.
“We believe that Tesla’s AI-based Full Self-Driving (FSD) technology and Robotaxi initiatives are critical to the story and a large part of our valuation,” Gengaro wrote in an investor’s note to clients this week. The analyst is a firm believer in Tesla’s strength in full self-driving (FSD) and its robotaxi service.
In addition, Gengaro is also bullish on Tesla’s robotaxi rollout, the paid service the company is offering in Austin and the San Francisco Bay Area.”Tesla management noted plans to expand to roughly eight to 10 metropolitan areas by year-end 2025,” Gengaro said about executive comments during the Q3 earnings call. “In Austin, TSLA has expanded the coverage area three times since its initial launch in June 2025, and is operating with a safety driver. Robotaxi in the Bay Area is also making progress, though safety drivers are still in place.”
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Gengaro isn’t the only bull on Wall Street for Tesla (TSLA). Despite the recent 5% dip this past week, analysts like Wedbush’s Dan Ives remain bullish on Tesla shares, and he believes the automaker’s AI future is where investors should be looking. “In my opinion, it’s going to be the most important chapter ever in Tesla’s story,” Ives said from the Yahoo Finance Invest event in New York last week. Ives has called the passage of Musk’s pay package a “bright green light” for Tesla’s AI and autonomous tech plans, and has an Outperform rating on the stock and a Street-high $600 price target.
Shares in Tesla (TSLA) stock continue to decline following the approval of Elon Musk’s $1T bonus payment plan earlier this month. At the Tesla shareholder meeting, Elon Musk won his $1T pay package that will pay out as Tesla achieves several sales targets in the coming years. Stock experts became mostly bearish, fearful of Musk’s increased control over the EV giant. As a result, TSLA is now down 7% in the last 30 days.
