Top Cantor Fitzgerald analyst Andres Sheppard increased the price target for Tesla (TSLA) stock to $510 from $355 and reiterated a Buy rating. The analyst remains bullish on the electric vehicle (EV) maker’s stock over the medium-to-long term, but suggests waiting for a potential pullback for a better entry point.
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Tesla stock has risen more than 10% year-to-date (as of writing). Shares were up 3.3% on Monday as investors focused on the easing trade tensions between the U.S. and China and looked past the weak Q3 earnings.
Top Cantor Analyst Stays Bullish on Tesla Stock
Sheppard noted that Tesla exceeded the Street’s estimates for Q3 revenue, gross margin, and free cash flow, though adjusted earnings per share (EPS) fell short of expectations.
Further, Sheppard highlighted that Tesla disclosed that volume production of its Cybercab, Semi, and Megapack 3 is on track for 2026. Moreover, production lines for the company’s Optimus humanoid robot are targeted for next year. The 5-star analyst sees all these updates on the production front as “significant.”
Additionally, Sheppard noted that TSLA expects a significant increase in its capital expenditure next year. The analyst expects capex of $9.2 billion for 2025 and $12 billion for 2026. Overall, the top-rated analyst remains bullish on TSLA stock over the medium-to-long term, and continues to see “meaningful” future upside from energy storage and deployment, full self-driving (FSD), robotaxis/Cybercab, semis, and Optimus Bots.
Is Tesla Stock a Buy, Sell, or Hold?
Overall, Wall Street has a Hold consensus rating on Tesla stock based on 14 Buys, 11 Holds, and 10 Sell recommendations. The average TSLA stock price target of $378.20 indicates a possible downside of 15.5% from current levels.
