Benchmark analyst Mickey Legg has initiated coverage on Tesla (TSLA) with a Buy rating and a price target of $475. According to Legg, Tesla’s growth isn’t just driven by the expanding electric vehicle (EV) market but also by opportunities in autonomous driving, robotics, and energy solutions.

A key catalyst for Tesla’s stock in the near future is expected to be the release of more affordable models in 2025, which could drive significant demand. The analyst also highlights that their current projections are based solely on vehicle sales growth, leaving room for additional upside if Tesla successfully scales its autonomous vehicle technology and Optimus robot initiative.

With multiple avenues for expansion, Tesla remains a compelling stock to watch.