Canaccord maintains a Buy rating on Tesla, with a target price of $420.

Canaccord Genuity analyst George Gianarikas, in a report on Monday, kept a “Buy” rating on Tesla, with the price target unchanged at $420, implying nearly 20% upside from the current share price, showing that he remains optimistic about Tesla’s performance outlook.

Tesla is a vertically integrated pure-play electric vehicle manufacturer and an AI software developer. Its products cover areas such as autonomous driving and humanoid robots. In addition, Tesla also sells fixed energy storage batteries for residential and commercial real estate (including utility companies), as well as solar panels and solar roofs for power generation. Tesla also owns a fast-charging network and an auto insurance business.

Based on one-year target prices provided by 42 Wall Street analysts, Tesla’s current average target price is $400.25, with the highest target at $600.00 and the lowest at $25.28.

The $400.25 average target price implies 13.44% upside versus Tesla’s Monday closing price of $352.82.

According to consensus recommendations from 54 brokerages, Tesla’s current average brokerage rating is 2.6, indicating that its stock rating is “Hold.” The rating range runs from 1 to 5, where 1 represents “Strong Buy” and 5 represents “Sell.”

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Editor: Yu Jian SF069