BofA Assumes Tesla at Buy, PT at $460

BofA Securities analyst Alex Perry assumes coverage on Tesla with a Buy rating and a price target of $460.

“We value Optimus, Tesla’s humanoid segment, at over $30bn (2% of valuation).

Optimus will likely first be used in manufacturing and possibly replace a portion of the ~13mm U.S. manufacturing jobs, with future adoption in households.

Separately, we value the Energy business at $90bn (6% of valuation) & expect Tesla to have leading share with its residential Powerwall batteries and its Megapacks for use by utilities & data centers.”

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