Major Bank Ratings | Bank of America: Resumes coverage of Tesla with a "Buy" rating, expects it to quickly become a Robotaxi leader

格隆汇 March 5｜Bank of America Securities released a report, resuming coverage of Tesla with a "Buy" rating and a target price of $460. The firm expects Tesla to quickly become the leader in Robotaxi services, as its expansion capabilities are more profitable than its competitors. The firm estimates that Robotaxi accounts for about 52% of the overall valuation. As Tesla continues to optimize its products to achieve higher levels of autonomous driving, adoption rates will rapidly increase, with FSD accounting for 19% of the overall valuation. The automotive business accounts for 21% of the overall valuation, and it is expected that Tesla will continue to gain market share amid increasingly stringent regulations in the electric vehicle sector. The firm values Tesla's humanoid robot business, Optimus, at over $30 billions, representing 2% of the overall valuation. Optimus is expected to be first applied in manufacturing, potentially replacing part of the approximately 13 million manufacturing jobs in the United States, and may enter household scenarios in the future. In addition, the valuation of the energy business is $90 billions, accounting for 6% of the overall valuation. Tesla is expected to gain a leading share in this field with its home Powerwall batteries and Megapack for utilities and data centers.