JP Morgan upgrades Tesla to neutral, raises price target to $475
Key takeaways
- The bank raised its price target on Tesla stock to $475 from $145.
- The analysts cited Tesla's level of vertical integration across hardware and software as a key competitive advantage.
- Tesla's path to autonomous driving has faced scrutiny.
JP Morgan upgrades Tesla to neutral, raises price target to $475 Quartz · Gabby Jones/Bloomberg via Getty Images Colleen Cabili Fri, June 5, 2026 at 9:23 PM GMT+7 2 min read TSLA JPM A long-running bearish position on Tesla came to an end Friday when JP Morgan lifted its rating on the stock to "neutral" from "underweight," abandoning a price target that had pointed toward a loss of roughly 65% for shareholders, according to Market Watch.
The bank raised its price target on Tesla stock to $475 from $145. Coverage of Tesla at JP Morgan had recently passed to Rajat Gupta; his predecessor, Ryan Brinkman, had been among the more vocal skeptics on the stock and told investors to approach it with a "high degree of caution" as recently as two months before the upgrade.
In the note, Gupta's team made the case that investors have come to anchor Tesla's worth to its future prospects in autonomy and robotics, a dynamic that has effectively decoupled the stock's valuation from what the company earns in any given quarter. The analysts cited Tesla's level of vertical integration across hardware and software as a key competitive advantage. "We believe this aspect is still somewhat under-appreciated and misunderstood, but for the sheer starting-point advantage it brings," they wrote.