Bank of America Revamps Tesla Forecast Ahead of Q2 Earnings
Bank of America (BofA) has revised its Tesla forecasts upward ahead of the company's Q2 2026 earnings report on July 22. The bank raised its 2026 revenue estimate to $107.8 billion from $103.4 billion, and lifted EPS estimates across 2026-2028 by 4-7%. BofA reiterated its Buy rating and $460 price target, implying 17.6% upside. The analysts highlight robotaxi expansion as the primary catalyst, noting operations in five markets with four more in preparation. However, Tesla fell short of its original target of nine cities by mid-2026. The Texas robotaxi fleet grew by over 100 vehicles to 175, though absolute numbers remain modest. BofA also notes 22 reported incidents with no serious injuries, but Tesla's mileage is far below Waymo's. The article also mentions SpaceX's Starship launch abort and stock decline.
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