Analyst Ben Kallo of Robert W. Baird maintained a Buy rating on Tesla, with a price target of $548.00.
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Ben Kallo has given his Buy rating due to a combination of factors tied to Tesla’s growth catalysts and evolving business mix. He highlights that, despite some early-year weakness, the stock has outperformed the broader market as investors focus on 2026 milestones such as robotaxi expansion, new product introductions, and progress toward commercializing the Optimus humanoid robot. He also points to expectations for meaningful updates on robotaxi deployment across new geographies, the eventual start of revenue recognition from these services, and potential regulatory approvals in major markets like China and the EU. In addition, Kallo anticipates higher-volume production of the Tesla Semi and continued expansion of the Energy segment as important contributors to Tesla’s long-term value.
Kallo’s updated model reflects refined assumptions across Tesla’s core and emerging businesses, supporting his conviction that the company remains a core holding. On the automotive side, he revises mix, pricing, and delivery expectations through 2030, while capping his forecast at the current installed capacity of roughly 3 million units per year, underscoring a conservative stance on volume growth. He builds in a staged rollout for robotaxis, with Tesla operating its own fleet initially and later opening participation to private owners, and incorporates initial Optimus sales followed by broader internal deployment starting in 2026. Positive third-party feedback on Tesla’s Full Self-Driving technology further reinforces his view of the company’s technological lead. Taken together, these operational and technological drivers underpin his unchanged $548 price target, derived from a premium multiple on 2030 EBITDA discounted back to year-end 2026.
Kallo covers the Consumer Cyclical sector, focusing on stocks such as Tesla, QuantumScape, and Lucid Group. According to TipRanks, Kallo has an average return of 5.0% and a 44.24% success rate on recommended stocks.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $500.00 price target.