JPMorgan Triples Tesla Price Target to $475, Forecasts 50% Earnings Growth
TSLA•JPMorgan raised Tesla’s price target to $475 from $145 and upgraded its rating to Neutral, citing the automaker’s leadership in “physical AI” and untapped markets. The bank projects an earnings inflection point in 2028 with 50% annual earnings growth through 2030, while April EU sales jumped 67% to 9,169 vehicles.
1. Price Target Hiked to $475
JPMorgan raised its price target for Tesla to $475 from $145 and upgraded the rating to Neutral, marking a more than 200% increase and signaling renewed confidence in the stock’s long-term potential.
2. “Physical AI” and Market Diversification
The bank highlighted Tesla’s evolution beyond electric vehicles into “physical AI,” pointing to its vertically integrated hardware-software ecosystem and industrial-scale manufacturing as catalysts for entry into new, largely untapped markets.
3. Earnings Inflection Point in 2028
JPMorgan projects Tesla will hit an earnings inflection point in 2028, followed by roughly 50% annual earnings growth through 2030, emphasizing that near-term valuation metrics understate longer-term opportunities.
4. European Sales Surge
In April, Tesla’s vehicle deliveries in the European Union jumped 67% year-over-year to 9,169 units, driving total EU, EFTA and U.K. sales up 47% to 10,654 vehicles and boosting its regional battery-electric market share to 0.9%.
