Tesla price target raised to $450 from $380 at Roth MKM

Roth MKM raised the firm’s price target on Tesla (TSLA) to $450 from $380 and keeps a Buy rating on the shares. The company’s Q4 results missed expectations even when ignoring the 17c EPS benefit on a change in Bitcoin holding gains accounting, but investors will now shift their focus to expectations of unsupervised FSD coming in Austin this June, the MiniCar starting production in the first half of the year, and the launch of CyberCab, the analyst tells investors in a research note. These developments are set to deliver multiple positive trading catalysts, Roth added.