Cantor Fitzgerald Maintains Overweight on Tesla, $355 Price Target

Cantor Fitzgerald analyst Andres Sheppard reiterated an Overweight rating and $355 price target on Tesla (NASDAQ: TSLA).

“TSLA’s shares have rallied ~28% in the past 30 days, and third quarter vehicle deliveries are expected to grow year-on-year, partially due to the sales push amid the end of $7,500 EV tax credit.

For 3Q25, company consensus is expecting 443,079 deliveries and 464,513 vehicles produced. For FY25, consensus is currently estimating 1,603,198 vehicles delivered and 1,708,269 vehicles produced.

In FY24, TSLA produced/delivered 1,773,443/1,789,226 vehicles, and so far in 1H25 the company has produced/delivered 772,859/720,803 vehicles, respectively.

Separately, on 9/15, TSLA CEO, Elon Musk disclosed that he had purchased ~2.57M TSLA shares (first time in five years), with the total transaction valued at ~$1B, which, in our view, reaffirms his commitment to remaining TSLA’s CEO for the considerable future.

TSLA will be reporting 3Q earnings later in October, and at its upcoming annual shareholder meeting in November, the company will seek approval for a ~$1T compensation package for Elon.

The package ties Musk’s potential payout to market capitalization milestones, requiring Tesla to reach an $8.5T valuation (vs. current market cap of ~$1T).

For Elon to receive the package, he will have to remain at Tesla for at > 7.5 years, and at least 10 years to earn the full amount.

Elon will also have to meet several key operational milestones, including overseeing the commercial deployment of 1 million autonomous taxis, and the deployment of 1 million robots, according to Bloomberg.

If achieved, Musk would gain up to 12% additional ownership in Tesla.”

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