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Update: JPMorgan Upgrades Tesla to Neutral From Underweight as 'Vertical Integration & Tech Efficacy Unmatched', $475 Price Target

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(Updated to include JPMorgan's commentary)

JPMorgan upgraded Tesla (TSLA) to neutral from underweight, noting the company's unmatched vertical integration is a "unique advantage."

The EV maker is at the forefront of physical AI, entering uncharted TAMs, and its strong execution will be vital to accelerating adoption and increasing the size of these TAMs themselves, analysts led by Rajat Gupta wrote in a Friday note.

Tesla has an average rating of overweight and mean price target of $400.22, according to analysts polled by FactSet.

Price: $406.60, Change: $-11.85, Percent Change: -2.83%

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