Stifel Reiterates ‘Buy’ Rating on Tesla
Stifel analyst Stephen Gengaro reiterated on September 5, 2025, a ‘Buy’ rating and $440 price target on Tesla.
“Today Tesla proposed a pay package for CEO Elon Musk that could be worth $1 trillion.
The milestones to reach this level are very aggressive (outlined below), and clearly require sustained executional excellence and robust growth in auto deliveries, full self-driving success, Robotaxi traction, and outstanding success of Optimus.
We continue to believe Mr. Musk is a critical driver of Tesla’s long-term success, and the unprecedented long-term compensation plan clearly incentivizes him to lead Tesla for the long term.
We maintain our Buy rating and $440 target price (a mere ~$1.5 trillion market cap).
New CEO Compensation Strategy
On August 4, Tesla proposed a new award of 96 million shares to CEO Elon Musk under its 2019 equity incentive plan.
Today, it also unveiled a longer-term CEO compensation strategy that would amount to 423,743,904 shares of Tesla’s common stock, which would represent 12% of the adjusted share count.”
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