Bank of America Sets $460 Tesla Target as Europe Sales Bounce Back
Bank of America reinstated Tesla with a Buy rating and $460 price objective, citing its camera-only autonomous approach and planned robotaxi expansion to seven new markets in early 2026. European deliveries rebounded from a slump and IG Metall is contesting 19 of 37 works council seats at the Berlin Gigafactory.
1. Analyst Coverage Resumption
Bank of America resumed coverage of Tesla with a Buy rating and $460 price objective, emphasizing the company’s leadership in consumer autonomy. The note highlighted Tesla’s camera-only approach as cost-efficient compared to multi-sensor systems and projected profitable scaling driven by data from its existing fleet.
2. Autonomous and Robotaxi Growth
Tesla’s camera-only autonomous software underpins its robotaxi services already operating in San Francisco and Austin, with seven additional markets slated for launch in the first half of 2026. Full Self-Driving subscriptions reached 1.1 million, and Optimus humanoid robots plus the energy division were valued at $30 billion and $90 billion respectively, offering further upside.
3. European Sales Recovery
After a recent slump, Tesla’s European deliveries returned to growth as demand recovered in key markets. Technical charts show the stock testing support levels following positive guidance from Wall Street upgrades and improving sales trends across the continent.
4. Berlin Gigafactory Union Vote
Employees at the Gruenheide Gigafactory are voting to elect a new works council, with IG Metall fielding 116 candidates aiming to secure 19 of 37 seats. Results due Wednesday could reshape labor relations in Europe’s largest car market and influence Tesla’s local operations.