Mizuho keeps Outperform on Tesla despite ‘slightly soft’ Q4

Mizuho reiterates an Outperform rating on Tesla (TSLA) with a $515 price target following last night’s Q4 report. The earnings report was “slightly soft,” but Tesla is targeting autos returning to growth in 2025 as autonomy efforts accelerate, the analyst tells investors in a research note. The firm believes Tesla is well positioned and best able to weather the potential loss of electric vehicle tax credits and as the number one U.S. EV supplier with Cybercab and Optimus as long-term growth drivers. However, China headwinds remain with increasing competition, Mizuho adds.