Tesla price target raised to $475 from $350 at Benchmark

Benchmark analyst Mickey Legg raised the firm’s price target on Tesla (TSLA) to $475 from $350 and keeps a Buy rating on the shares following the successful launch of Tesla’s robotaxi business in Austin. While limited, the firm believes the rollout demonstrates “a controlled and safety-first approach,” according to the analyst, who argues that winning over regulators and public opinion is “paramount and will allow a rapid scale up if achieved.” The stock reached a high of $488 in December and has declined 33% to current levels, adds the analyst, who believes the firm’s thesis “remains intact” and notes that Tesla remains a Benchmark Top Pick for 2025.