Bank of America Revamps Tesla Forecast Ahead of Q2 Earnings
Bank of America has revised its Tesla forecasts upward ahead of the company's second-quarter earnings report on July 22, 2026. The bank raised its 2026 revenue estimate to $107.8 billion from $103.4 billion, and increased EPS estimates for 2026-2028 by 4-7%. BofA reiterated its Buy rating and $460 price target, implying 17.6% upside. The analysts identified robotaxis as the primary catalyst, noting Tesla's expansion to five markets with a Texas fleet of 175 vehicles. However, Tesla fell short of its target of nine cities by mid-2026. The bank highlighted 22 reported incidents with no serious injuries, though mileage remains far below Waymo's. Tesla's pricing is 21% cheaper than competitors but with longer wait times. The report also noted SpaceX's Starship launch abort and stock decline.
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