Oppenheimer Reiterates Tesla’s Perform Rating

Oppenheimer analyst Colin Rusch reiterated a ‘Perform’ rating on Tesla.

“While investors digest the potential impact of the SPCX on TSLA shares, we expect increased demand for stationary storage as well as potential for increased collaboration around Physical AI applications including incremental resource sharing.

At the same time, elevated oil prices and volatility are supporting global EV demand, and we believe TSLA’s evolving product offering and ongoing cost-downs are driving improved sell-through.

We are raising estimates on higher stationary storage and passenger vehicles sales as a result.

While we anticipate TSLA shares will see some support on speculation of a merger with SPCX, we believe CEO Elon Musk’s longer-term vision of AI is best served by diversified, flexible access to capital and believe having two public currencies supports that strategy most effectively.”

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.