JPMorgan Keeps Neutral on Tesla, $415 Price Target

JPMorgan analyst Rajat Gupta reiterated a Neutral rating and $415 price target on Tesla (NASDAQ: TSLA).

“TSLA (CEO Elon Musk, VP of Vehicle Engineering Lars Moravy, and Chief Designer Franz von Holzhausen) unveiled its long-awaited second-generation Roadster at SPCX’s McGregor, Texas facility, showcasing a vehicle developed in collaboration with SPCX (covered by Doug Anmuth) that combines conventional automotive engineering with rocket propulsion technology.

The redesigned two seat Roadster incorporates cold-gas thrusters, an advanced underbody suction system and active aerodynamics, enabling unconventional performance capabilities, including controlled aerial maneuvers.

Production is targeted for 2028, compared with the original 2020 delivery target announced when the vehicle was first unveiled in 2017.

The company did not disclose final pricing, battery capacity, driving range or anticipated production volumes.

Roadster orders are open, requiring ~$5K upfront and another ~$45K due after 10 days for the “Performance” road-ready version, and ~$250K overall deposit for the “Thrust” variant which includes the aero and multi-mode suction-systems along with thrusters.

Another 1-seater “Rocket” variant is reserved for invite-only buyers.

Management also indicated that the Roadster would eventually become TSLA’s only manually driven vehicle as the broader portfolio transitions toward full autonomy”

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