What Led JPMorgan to Revisit Its Tesla Inc (TSLA) Stock Rating?

JPMorgan revisited Tesla’s outlook by upgrading TSLA to Neutral from Underweight and sharply raising its price target to $475 from $145. The bank cited Tesla’s expanding optionality in autonomous driving, humanoid robots, software services, and AI chips, arguing these businesses could materially change Tesla’s earnings mix over the next decade. JPMorgan also highlighted Tesla’s unusually high vertical integration across hardware and software as an underappreciated strength. The note projects Tesla’s EPS rising to $7.50 by 2030 from about $1.95 in 2026, with revenue more than doubling from $95 billion in 2025 to $203 billion in 2030. It sees roughly half of the incremental top-line growth coming from services, robotics, and autonomous driving. The article is fundamentally positive for Tesla sentiment, though the stock was down 2.05% on the day mentioned.