Tesla price target raised to $325 from $270 at Barclays

Barclays analyst Dan Levy raised the firm’s price target on Tesla (TSLA) to $325 from $270 and keeps an Equal Weight rating on the shares. The firm sees “several key areas dominating the Tesla business focus” for 2025 – the return to volume growth, expansion in autonomous vehicle efforts, and contribution from “other” areas, notably regulatory credits and energy. However, Barclays believes fundamentals remain secondary versus the “broader theme of narrative command” for Tesla, which has gone into “hyperdrive” since the U.S. elections last November. The stock has “become untethered from fundamentals, arguably similar to what we saw with Tesla stock in late 2021 when the market was awash in EV euphoria,” the analyst tells investors in a research note. While fundamentals will eventually return to being important to Tesla investors, for now it is unclear what the negative catalyst is, “with the stock to potentially remain elevated for now,” contends the firm.