Tesla Stock Surges to $400 Following Analyst Upgrades and New Model Announcement

Bank of America raises Tesla's price target while the company reveals plans for a lower-cost EV targeting the Chinese market.

Tesla shares have risen over 50% since the U.S. election, reaching $400 in pre-market trading and nearing their all-time high of $407.36 from November 2021.
Bank of America increased Tesla's price target from $350 to $400, citing optimism about the company's EV growth, robotaxi potential, and humanoid robot project, Optimus.
Tesla announced plans for the Model Q, a sub-$30,000 electric vehicle aimed at the Chinese market, although its production timeline remains speculative.
Analysts were impressed with improvements in Tesla's Full Self-Driving software (version 13.2), which they believe brings the company closer to launching autonomous robotaxis.
Despite high valuations, some analysts remain bullish on Tesla’s long-term potential, while others caution about risks, with price targets ranging widely from $24.86 to $411.