Tesla's Autonomous Driving and Robotaxi Services Set for Growth, Says Bank of America
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 04 2026
0mins
Should l Buy BAC?
Source: CNBC
- Buy Rating Reinstated: Bank of America has reinstated coverage of Tesla with a buy rating, setting a price target of $460, which implies a 17% upside; despite a 13% decline in shares this year, the stock has risen 44% over the past 12 months, reflecting market confidence in its growth potential.
- Leadership in Autonomous Driving: Analyst Alexander Perry views Tesla as a leader in autonomous driving and expects its robotaxi services to scale rapidly, becoming a significant driver of future mobility and offering consumers safer and more accessible transportation options.
- Significant Technical Advantage: Tesla's camera-only approach, while technically challenging, is cheaper and leverages consumer fleet data, allowing for more profitable scaling of its robotaxi services compared to competitors, providing a clear cost advantage over rideshare companies.
- Diverse Business Prospects: Perry also highlights the potential of Tesla's Optimus humanoid robots and energy business, valuing them at over $30 billion and $90 billion respectively, with future applications in manufacturing and households, further enhancing the company's growth trajectory.
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Analyst Views on BAC
Wall Street analysts forecast BAC stock price to rise
19 Analyst Rating
15 Buy
4 Hold
0 Sell
Strong Buy
Current: 49.270
Low
55.00
Averages
61.64
High
71.00
Current: 49.270
Low
55.00
Averages
61.64
High
71.00
About BAC
Bank of America Corporation is a bank holding company and a financial holding company. Its segments include Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking and Global Markets. Consumer Banking segment offers a range of credit, banking and investment products and services to consumers and small businesses. The GWIM includes two businesses: Merrill Wealth Management, which provides tailored solutions to meet clients' needs through a full set of investment management, brokerage, banking and retirement products and Bank of America Private Bank, which provides comprehensive wealth management solutions. Global Banking segment provides a range of lending-related products and services, integrated working capital management and treasury solutions, and underwriting and advisory services. Global Markets segment offers sales and trading services and research services to institutional clients across fixed-income, credit, currency, commodity, and equity businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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