Wall Street analysts raised their price targets for Tesla ahead of the electric vehicle maker’s second-quarter earnings report, citing stronger deliveries while emphasizing that Robotaxi, autonomous driving and Optimus remain central to the company’s valuation.
Barclays analyst Dan Levy increased his Tesla price target from $360 to $370 and maintained an Equal Weight rating on the stock. Levy said investors will closely monitor progress across Tesla’s principal growth initiatives, including the expansion of its Robotaxi service, development of self-driving technology and production of the Optimus humanoid robot.
Barclays described Tesla’s better-than-expected second-quarter delivery figures as another indication that conditions in its automotive business have improved.
Morgan Stanley also raised its price target for Tesla, moving it from $415 to $417 while retaining an Equal Weight rating. The bank said strong automotive and energy deliveries positioned Tesla for a “solid quarter.”
However, Morgan Stanley argued that Robotaxi and Optimus will remain the primary drivers of Tesla shares. Although the firm expects constructive updates on both initiatives, it does not believe the announcements are likely to trigger a decisive revaluation of the stock.
Meanwhile, Tesla is increasing production at its factory in Grünheide, Germany, Bloomberg reported. The expansion is being driven by stronger demand for the Model Y sport utility vehicle. Tesla’s German facility currently supplies vehicles to more than 30 markets.
In other electric vehicle industry developments, Lucid Group confirmed that it is working with consulting firm AlixPartners but rejected reports suggesting it could be preparing for bankruptcy.
Lucid said rumors about a potential bankruptcy filing were “completely false,” adding that it had sufficient liquidity to fund operations well into next year. According to the company, AlixPartners is helping it improve execution and operational performance and has not recommended bankruptcy to either management or the board.
Elsewhere in the clean energy sector, Truist initiated coverage of First Solar with a Hold rating and a $249 price target.
The firm said First Solar currently benefits from several U.S. policy incentives, including investment tax credits, production tax credits and Section 45X manufacturing credits. Truist estimated that the 45X credits contribute 43 percentage points to First Solar’s projected 2026 EBITDA margin.
However, those benefits are scheduled to decline to 75% of their current level by 2030 and expire entirely by 2033. Truist said it would remain on the sidelines until it gains greater clarity on First Solar’s ability to defend its market share once the incentives phase out, particularly as emerging solar technologies deliver improved efficiency.
