Cantor Fitzgerald Boosts Tesla (TSLA) Price Target as New Production Plans Accelerate Growth Outlook

Tesla Inc. (NASDAQ:TSLA) ranks among the best sustainability stocks to invest in. On October 27, Cantor Fitzgerald maintained its Overweight rating on Tesla Inc. (NASDAQ:TSLA) and increased its price target from $355 to $510. The firm referenced Tesla’s announcement that Cybercab, Semi, and Megapack 3 volume production is scheduled for fiscal year 2026, with Optimus production lines also expected for that year.

Early Optimus V3 prototypes are currently being manufactured at Tesla’s Fremont facility in California. By late 2026, Tesla Inc. (NASDAQ:TSLA) plans to increase Fremont’s output to roughly one million cars per year, ahead of a far larger production push in Texas. The Gigafactory Texas line, which has an annual capacity of 10 million units, is scheduled to begin production in 2027.

Cantor Fitzgerald anticipates a “significant increase” in capital expenditures for the upcoming year and sees these production schedules as significant milestones for the company.

The firm projects capital expenditures of about $9.2 billion for fiscal year 2025 and $12 billion for the year after.

That said, some firms advise caution around such lofty outlooks for the EV giant. On November 11, Truist Securities reiterated its Hold rating on Tesla Inc. (NASDAQ:TSLA) with a price target of $406, while expressing concern about the company’s future growth drivers, noting that the company’s physical AI technologies, including the Optimus robot, remain essentially unproven, with “close to zero revenue” at the moment.

Tesla Inc. (NASDAQ:TSLA) designs, develops, manufactures, leases, and sells EVs, and energy generation & storage systems in the US, China, and internationally.

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Disclosure: None. This article is originally published at Insider Monkey.