Canaccord Raises Tesla’s Price Target to $450
Canaccord analyst George Gianarikas raised the price target on Tesla (NASDAQ: TSLA) to $450.00 (from $420.00) while maintaining a Buy rating.
“So, An investment in Tesla continues to serve as a proxy for an emerging paradigm; a bet on a new world – one predicated on the convergence of AI, robotics, and the decarbonization of energy systems.
By betting on Tesla, you are looking through the potential for negative free cash flow and essentially asserting that Elon Musk is right about a future defined by AI-driven robots and clean energy.
And that he is right about radical vertical integration. This is actually about more than vertical integration for the sake of enhanced margins or product oversight —it’s about strategic sovereignty.
In a world of unstable geopolitics, Tesla’s “end-to-end” model secures its own supply chain, taking into consideration even the minerals and semiconductors needed for robotics.
But for the record, we are still enamored with EVs for EVs sake. On this Earth Day, we are electromaxxing.
Following Tesla’s 1Q26 print, we reiterate our BUY rating and are raising our price target to $450. We have updated our model to better reflect product launches and anticipated volume ramps.
As a result, our 2028E non-GAAP EPS moves to $11.43 (from ~$11.30).”
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