JPMorgan Upgrades Tesla to Neutral, Lifts Target to $475 on Robotics

JPMorgan abruptly ended its bearish Tesla call on June 5, upgrading TSLA to Neutral from Underweight and raising its price target to $475 from $145. The shift caps a week of supportive analyst commentary that began with Cantor Fitzgerald’s June 1 Overweight reiteration at $510. Tesla shares rebounded 1.6% to $422.57 on June 2 after China deliveries jumped 39.4% YoY, while Europe registrations surged in early June data. TD Cowen added to the constructive tone on June 4 with a reiterated Buy rating and $490 target. JPMorgan now projects revenue doubling to $203 billion by 2030, with EPS reaching $7.50, though execution and regulatory risks remain elevated.