UBS Upgrades Tesla to Hold with $352 Target, Cites AI and Delivery Outlook
UBS upgraded Tesla’s rating to Hold from Sell and set a $352 price target, highlighting a balance between near-term EV demand headwinds and longer-term AI opportunities. The firm forecasts 2026 deliveries at about 1.6 million units rising to 2 million by 2030 as Tesla scales its Austin robo-taxi service and pursues humanoid robot production in Shanghai.
1. UBS Upgrade and Price Target
UBS shifted Tesla’s rating from Sell to Hold and maintained a $352 price target, attributing the change to a more balanced risk-reward profile. The upgrade drove a roughly 2% gain in Tesla shares as investors weighed upcoming quarterly results against evolving market conditions.
2. Delivery Projections Through 2030
UBS projects Tesla’s 2026 vehicle deliveries will hold steady at about 1.6 million units before climbing to approximately 2 million by 2030. This forecast falls below broader market expectations yet assumes gradual recovery in EV uptake and capacity utilization.
3. AI and Robotics Expansion
Tesla continues to invest in its physical AI roadmap, having launched a robo-taxi service in Austin and planning city expansions. A Shanghai executive has indicated the Gigafactory could eventually support humanoid robot manufacturing, underscoring Tesla’s long-term diversification into robotics.