The stock is up $13.24 (+3.70%) at $371.17.
From TheStreet, December 5:
Analyst revisits Tesla stock price target amid Optimus robotics push
Tesla's Optimus humanoid robot is already being deployed in the group's energy-storage division.
Updated at 9:45 AM ESTTesla shares moved higher in early Thursday trading, hitting a fresh one-year peak, following a price target upgrade from a top Wall Street analyst tied to its investments in next-generation robotics.
Tesla (TSLA) shares have gained more than $340 billion in market value over the past month, rising around 42.4% on bets that CEO Elon Musk's support for President-elect Donald Trump, as well as his ties to the new administration, will prove favorable for the world's biggest EV maker.
Investors, however, have long valued Tesla's broader efforts in energy storage, self-driving technologies and robotics at much higher levels than its legacy automaking business, suggesting its future profits are more likely to be tied to developments in these divisions than to electric-vehicle production.
Morgan Stanley analyst Adam Jonas, in fact, says Tesla could reach a market value of around $1.6 trillion if his bull case for the stock comes to fruition and Musk's involvement with the new administration enables a repricing of its AI ambitions.
Musk himself touted the profit potential of AI technologies, particularly with respect to the group's ambition to offer self-driving software to its near 7 million global EV fleet, adding that capital spending would likely rise to around $10 billion this year as a result.
"We are going to double down on Dojo and we do see a path to being competitive with Nvidia with Dojo," Musk told investors in July, speaking of the supercomputer. "We've really got to make Dojo work and we will."
Humanoid robots
Bank of America Securities analyst John Murphy added his name to that list Thursday as he lifted his price target on Tesla by $50 to $400 a share, citing the impact robotics technology will have on the group's upcoming fleet of Cybercabs, which are expected to launch next year....
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