TD Cowen Tesla · TSLA

TD Cowen Reaffirms ‘Buy’ Rating on Tesla

1 min read Reproduced verbatim
Rating
Buy
Unchanged
Target
$374
Outcome
Reached
on September 12, 2025
TD Cowen and Tesla logos

What the analyst said

TD Cowen analyst Itay Michaeli reiterated on September 12, 2025, a ‘Buy’ rating and $374 price target on Tesla.

“Tesla hosted a sell-side call with the Special Committee of the Board to discuss the recent CEO compensation proposal outlined in the proxy.

We walked away with a clearer understanding of the proposals.

We view Tesla’s Product milestones to be well-aligned with our Tesla thesis, leaving us more confident about the company’s LT trajectory.

The four Product Goals outlined in the proxy provide a good read on Tesla’s LT strategic priorities.

By our estimation, the initial achievement of the four product goals would seem to align with the first two EBITDA milestones of $50/$80bln (our 2030E EBITDA = $53bln).

Thus, our working assumption is that these product goals are possibly contemplated for achievement around ~2030 (give/take) within the 10yr plan, with remaining EBITDA milestones (up to $400bln) reflecting scalability ambitions.”

Disclaimer
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 $344. The 17 analysts who set a target in the last 3 months range from $24.86 to $500, with a median of $442. This $374 target is 15% below the median.

Since the note TSLA has moved −7% (from $369). The 12-month window closed on September 12, 2026.

Track record

This call✓ Target reached on September 12, 2025, 2 months after the note. Same target as this firm’s July 24, 2025 note, so it is scored there.

Firm track recordTD Cowen: 83% of its 36 targets at least a year old were reached within 12 months (#5 of 26 firms); on Tesla, 4 of 6. Accuracy ranking →

TD Cowen on Tesla

TD Cowen price targets on Tesla

8 calls from May 27, 2025 to October 23, 2025. The target went from $330 to $509 (+54%). The rating stayed Buy.

TD Cowen targetTSLA share price
  1. October 23, 2025Kept the $509 targetBuy$509
  2. October 9, 2025Target raised from $374 (+36%)Buy$509
  3. September 12, 2025 This noteKept the $374 targetBuy$374
  4. July 24, 2025Target raised from $330 (+13%)Buy$374
  5. June 27, 2025Kept the $330 targetBuy$330
  6. June 23, 2025Kept the $330 targetBuy$330
  7. June 6, 2025Kept the $330 targetBuy$330
  8. May 27, 2025Earliest call shownBuy$330
Share

Other analysts on Tesla

CantorBuy Kept rating and price target Oct 26 $485maintained BarclaysBuy Upgraded, raised price target +22% Oct 26 $450from $370 StoneXBuy Kept rating and price target Oct 22 $475maintained BNP ParibasHold Upgraded Oct 22 Morgan StanleyHold Raised price target +2%, kept rating Oct 22 $410from $400
Share on
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.