<div id="readability-page-1"><div><div>Benchmark analyst Mickey Legg maintained a Buy rating on Tesla TSLA and raised the price target from $350 to $475 on Thursday.Tesla remained a Benchmark Top Pick for 2025, Legg said.While limited, Legg noted the controlled rollout demonstrates a controlled and safety-first approach.Also Read: Tesla Robotaxi Scaling Growth Will Be Slow In Near Term: Goldman SachsThe analyst prioritized winning over regulators and public opinion to enable a rapid scale-up.New regulations for autonomous vehicles will take effect on September 1 in Texas, which he noted will further help win trust and pave the way for expansion to additional cities.Legg pointed out that the stock reached a high of $488 in December and has since declined by 33% to its current levels. Since reaching a low of $213 in April, the stock has rebounded by 54% as the dust settles on tariffs, the rollout of robotaxis, and regulations.While rival Alphabet Inc. GOOGL Waymo has a first-mover advantage, the analyst expressed conviction in Tesla’s camera-focused approach, which is cost-effective and scalable. He noted that the average cost of a Waymo is over six figures, well over the cost of producing a Tesla Model Y.Legg noted that Tesla could report second-quarter deliveries next week. While expectations will likely be down, the analyst noted that this has been baked into the stock, and a rebound will likely hit in the second half.He noted that the growth ahead remains in the form of expanding the Robotaxi business, model refreshes, and Optimus robots in the long term.According to Legg, Tesla is evolving from a trailblazing vehicle OEM to a high-tech automation and robotics company with an unmatched domestic manufacturing scale.The analyst noted that Tesla’s balance sheet is well-stocked with $37.0 billion in cash and equivalents. Tesla generated over $600 million in free cash flow in the first quarter and over $3.5 billion in 2024, providing plenty of fresh powder to fund growth opportunities.Legg projected second-quarter revenue of $22.7 billion and EPS of $0.33.Price Action: TSLA stock was up 0.39% at $328.79 at the last check on Wednesday.<ul> <li>BofA Sees $155 Billion Agentic AI Boom By 2030, Names Key Beneficiaries</li> </ul>Photo: Shutterstock</div></div></div>

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Benchmark analyst Mickey Legg has maintained a Buy rating on Tesla (TSLA) and raised the price target from $350 to $475. He emphasized Tesla's strong cash flow, with $37 billion in cash and projected second-quarter revenue of $22.7 billion. Legg noted the importance of regulatory trust for the rollout of robotaxis, despite competition from Waymo. Tesla's stock has rebounded 54% since April's low, and Legg believes growth will come from expanding the Robotaxi business and new technologies. TSLA stock was up 0.39% at $328.79 recently.

- Benchmark analyst Mickey Legg maintained a Buy rating on Tesla and raised the price target from $350 to $475, citing a controlled rollout and safety-first approach.  
- New regulations for autonomous vehicles in Texas, effective September 1, are expected to enhance public trust and facilitate expansion.  
- Legg highlighted Tesla's strong balance sheet with $37.0 billion in cash, projecting second-quarter revenue of $22.7 billion and EPS of $0.33, while noting the stock's recent rebound from a low of $213.

Tesla Set For Rebound Thanks To Robotaxis And Strong Cash Flow: Analyst