Bank of America Raises Tesla’s PT to $471

BofA Securities analyst Federico Merendi raised on October 29, 2025, the price target on Tesla to $471 (from $341) while maintaining a ‘Neutral’ rating on the stock.

“We raise our PO to $471 from $341, still based on our sum-of-the-parts (SOTP) analysis.

Recall that our valuation approach is based on a discounted cash flow (DCF) analysis built out until 2040.

Overall, we find that TSLA’s core automotive business represents around 12% of the total value while robotaxi is 45%, FSD is 17%, Energy Generation & Storage is around 6% and Optimus is 19%.

Our PO revision is driven by a lower cost of equity capital, better Robotaxi progress, and a higher valuation for Optimus to account for the potential entrance into international markets.”

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