Canaccord Genuity Tesla · TSLA

Canaccord Genuity Raises Tesla Price Target to $404

January 2, 2025 Analyst: George Gianarikas 1 min read Reproduced verbatim
Rating
Buy
Target
$404
from $298 (+36%)
Upside
+10%
TSLA at $369 today
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What the analyst said

Canaccord Genuity analyst George Gianarikas raised the price target on Tesla (NASDAQ: TSLA) to $404 (from $298) while maintaining a Buy rating.

“Despite weaker-than-expected deliveries, we are sticking with our BUY and raising our target from $298 to $404. This target is based on ~40x (from ~34x) our 2027E (from 2026E) non-GAAP EPS of $10.11.

We feel this multiple is justified based on the multiples and growth rates of Tesla’s comp set — which we deem to be a group of megacap tech stocks, including Alphabet, Amazon, Apple, Meta, Microsoft, and Nvidia.

This set of companies trades at a median of ~23x 2027E EPS (FactSet) but has a combined revenue growth rate ~half of Tesla’s from 2025-2027.

Longer term, Tesla also has a generational set of growth opportunities ahead, including EVs, autonomy/AI, energy storage, and robotics.

We acknowledge the limited upside implied by our price target but believe it is appropriate given the near-term volatility.”

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The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

TSLA trades at $369. The 19 analysts who set a target in the last 3 months range from $24.86 to $500, with a median of $450. This $404 target is 10% below the median.

Since the note TSLA has moved −9% (from $404). The 12-month window closed on January 2, 2026.

Track record

Firm track recordCanaccord Genuity: 80% of its 5 targets at least a year old were reached within 12 months (#21 of 28 firms); on Tesla, 4 of 5. Accuracy ranking →

Canaccord Genuity on Tesla

Canaccord Genuity price targets on Tesla

8 calls from April 23, 2025 to July 23, 2026. The target went from $303 to $410 (+35%). The rating stayed Buy.

Canaccord Genuity targetTSLA share price
  1. July 23, 2026Target cut from $450 (−9%)Buy$410
  2. April 23, 2026Target raised from $420 (+7%)Buy$450
  3. March 30, 2026Target cut from $551 (−24%)Buy$420
  4. December 22, 2025Target raised from $482 (+14%)Buy$551
  5. October 23, 2025Target cut from $490 (−2%)Buy$482
  6. September 30, 2025Target raised from $333 (+47%)Buy$490
  7. July 24, 2025Target raised from $303 (+10%)Buy$333
  8. April 23, 2025Earliest call shownBuy$303
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Other analysts on Tesla

JP MorganHold Kept rating and price target · Oct 16 $415maintained Yorkville IvesBuy Kept rating and price target · Oct 12 $500maintained Yorkville IvesBuy Initiated coverage · Oct 7 $500 UBSHold Raised price target +2%, kept rating · Oct 7 $391from $385 Goldman SachsHold Kept rating and price target · Oct 6 $360maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.