JPMorgan Upgrades Tesla (TSLA) to Neutral, Raises Price Target to $475 on Autonomous Driving and Robots

JPMorgan upgraded Tesla Inc. (TSLA) to Neutral from Underweight on June 5, 2026, saying investors are increasingly valuing the company’s long-term potential in autonomous driving and robotics rather than near-term electric vehicle profits. The bank lifted its price target to $475 from $145, projecting that robotaxi services, humanoid robots, and AI software will reshape Tesla’s earnings through 2030. Analyst Rajat Gupta said Tesla’s vertical integration across hardware and software remains underappreciated by the market. JPMorgan forecasts earnings per share will accelerate after 2028, rising to about $7.50 in 2030 from an estimated $1.95 in 2026. Revenue is seen growing to $203 billion in 2030 from roughly $95 billion in 2025, with nearly half the increase coming from autonomous and robotic services. The report cautioned that significant execution risks remain, including regulatory approvals, safety validation, and large-scale commercialization. Among analysts covering Tesla, 24 rate the stock a Buy, 23 a Hold, and 7 a Sell, according to LSEG data.