Tesla (TSLA) stock is back in focus after Stifel analyst Stephen Gengaro raised his price target to $508 from $483 and kept a Buy rating. He said Tesla’s robotaxi, full self-driving (FSD), and robotics plans are moving forward, even if near-term demand may be uneven.
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Gengaro is a five-star analyst on TipRanks, ranking #629 out of 10,123 analysts tracked. He has a 47% success rate and an average return per rating of 13.10%.
Why This Top Analyst Is Positive on Tesla Stock
Gengaro said Tesla continues to make steady progress on its robotaxi rollout. Testing is already underway in Austin and the Bay Area, and the company plans to expand to 8–10 major cities by late 2025. Tesla also aims to run robotaxis without safety drivers in parts of Austin by the end of next year, with further launches planned in Nevada, Florida, and Arizona.
He also highlighted improvements in FSD Version 14, which he said is working well. Tesla plans to roll out new “reasoning” features in coming updates to improve decisions such as parking, lane changes, and turns. Gengaro believes steady software gains could help Tesla move closer to wider autonomous use.
Gengaro also sees long-term upside in Tesla’s robot program, Optimus. CEO Elon Musk expects to show the next prototype in early 2026 and hopes to scale production later that year.
Near-Term Risks Remain
While the long-term outlook looks promising, Gengaro cautioned that some demand may have been pulled forward ahead of the EV tax credit deadline, which could result in softer delivery numbers in the next few quarters.
However, Tesla is working to offset that risk by offering lower-priced versions of the Model Y and Model 3, both priced below $40,000, which may help support demand.
Is Tesla a Good Stock to Buy?
Analysts remain cautious about Tesla’s long-term outlook amid declining EV sales and stiff competition. On TipRanks, TSLA stock has a Hold consensus rating based on 14 Buys, 10 Holds, and 10 Sell ratings. The average Tesla price target of $382.54 implies 5.4% downside potential from current levels. Over the past year, TSLA shares have gained 19.4%.
