Tesla stock (NASDAQ: TSLA) has pushed yet another Wall Street firm to boost its price target, but this time, shares have also held their ‘Buy’ rating, as Canaccord Genuity analyst George Gianarikas made both adjustments.

Gianarikas raised Canaccord’s price target on Tesla shares up to $490 from $333, as the stock has been well above the latter number for some time.

Shares are currently trading at around $443, and have not traded at $333 since the beginning of September. Tesla shares have increased by over 34 percent in the past month.

A new note written to investors from Gianarikas breaks down each division of the company and how it will contribute to Tesla’s overall growth through the next several quarters. Investors are certainly concerned about the removal of the $7,500 EV tax credit, but it’s important to note that Tesla is much more than an automotive stock play.

Affordable Models

Gianarikas notes that Canaccord expects higher deliveries this quarter, in part due to the removal of the tax credit, which will occur today.

The firm expects Tesla to offset the loss of the tax credit with the introduction of new, affordable models, something the company has stated it is working on and plans to introduce during the second half of this year.

Now, with just a quarter left in 2025, it seems Tesla plans to launch those models within the next three months. Canaccord said:

“…on the EV side, we expect more new models soon – as promised by management. These should help global sales momentum – and potentially help alleviate any post-3Q cliff in the US after EV tax credits go away. And these new vehicles should be interesting.”

Tesla Energy

The company’s Energy division is one that consistently flies under the radar and gets little attention. With an increase in data centers and the need for more power, Canaccord thinks this is where Tesla could see some true growth over the next few years:

“Fully using grid resources not only takes significant time and effort but is increasingly met with resistance from utilities and consumers as they express concerns about increasing power prices and impact on grid resiliency. Elon Musk himself used behind-the-meter solutions like methane gas turbines and generators in Memphis to build his xAI facility – although next time he should be careful not to pollute the environment when he does it. Energy storage will play a material role in behind-the-meter solutions.”

Elon Musk’s Comp Package

Locking up Musk for the next several years was a crucial part of keeping Tesla as a bullish stock play for many firms.

The new comp plan for CEO Elon Musk will benefit investors as well as the Tesla frontman, and although these tranches are challenging, they appear to be well within the realm of possibility.

“Those targets, if achieved, promise great returns for Tesla shareholders. Embedded in the upcoming shareholder vote is an opportunity for Tesla shareholders to potentially invest in xAI as well. Given Mr. Musk’s singular business achievements, we see his commitment to the company and bold targets as – mostly -a positive. $400B in EBITDA. Yowza. That’s one of Mr. Musk’s operational targets over a 10-year period and compares to ~$15B TTM as of 2Q25. Mr. Musk is who he is, and it is hard to underestimate him. But, a lot needs to go right for him to achieve it.”

Price Target and Rating

Gianarikas says there was a potential for a stock downgrade while mulling what forecast to put on Tesla shares, especially as the firm admits it “still struggles” with the valuation. Near-term, however, there are more catalysts than drawbacks.

With the affordable EVs presumably on the way, as well as plenty of momentum in Robotaxi and Optimus projects, Tesla is sitting in a good spot, especially from an investor perspective, Canaccord believes.

It ups its price target to $490 and reiterates its ‘Buy’ rating.

Tesla has published a video highlighting Elon Musk’s new CEO Performance Award, which is expected to take the company all the way to a market cap of $8.5 trillion. 

Musk’s pay package will be voted on by Tesla shareholders at the company’s upcoming annual meeting of stockholders this coming November 6.

Tesla’s proposal

In its post, Tesla noted that the company pays for outstanding performance, not promises. Tesla noted that Musk’s previous pay plan, which has been fully accomplished, was intended to deliver billions to TSLA shareholders. This time around, the company is looking to deliver trillions to stockholders.

“We pay for outstanding performance – not for promises. In 2018, shareholders approved a groundbreaking CEO Performance Award that delivered extraordinary value. At our Annual Meeting on November 6, Tesla shareholders can vote on a pay-for-performance plan designed to drive our next era of transformational growth and value creation. Seven years ago, Elon Musk had to deliver billions to shareholders – now it’s trillions.

“This plan creates a path for Elon to secure voting rights and will retain him as a leader of the company for many years to come. But as explained below, Elon only receives voting rights after he has delivered economic value to you. Your vote matters. Vote ‘FOR’ Proposal 4!” Tesla wrote in its post on X. 

Ambitious targets

The package calls for Elon Musk to grow Tesla’s market capitalization from its current $1.1 trillion to $8.5 trillion within the next decade. At that size, Tesla would surpass every other public company in history. For context, Nvidia, today’s most valuable company, is worth about $4.4 trillion, while Microsoft and Apple follow at $3.8 trillion and $3.7 trillion, respectively. Even Saudi Aramco, long among the world’s giants, holds a valuation of just $1.6 trillion.

To hit the $8.5 trillion target, Tesla must more than practically double Nvidia’s present value and expand nearly eightfold from its current scale. The plan also requires operating profit to soar from $17 billion in 2024 to $400 billion annually, while meeting ambitious product milestones: 20 million cumulative vehicle deliveries, 10 million active FSD subscriptions, 1 million Tesla Bots, and 1 million Robotaxis. 

If achieved, Musk’s stake in TSLA would rise to 25%, with compensation topping $900 billion in Tesla stock. In a post on X, Musk explained that his priority with is new compensation plan is not about gathering wealth, it was about securing influence. “If I can just get kicked out in the future by activist shareholder advisory firms who don’t even own Tesla shares themselves, I’m not comfortable with that future,” Musk wrote in a post on X.

Tesla (NASDAQ: TSLA) got another new price target this week after one firm said that recent events “have removed a large overhang on the stock.”

This year, Tesla has had an up-and-down performance on Wall Street, but gains over the past month have overshadowed much of the skepticism and pressure on the stock.

However, over the past 30 days, a lot of good things have happened: Tesla has shown it has a lot of demand for its vehicles, which will likely translate to good delivery figures, it figured out a compensation plan for CEO Elon Musk, and the company’s clear focus on Robotaxi and Optimus puts it in a good position for the future as the focus comes off of quarterly deliveries.

Tesla board reveals reasoning for CEO Elon Musk’s new $1 trillion pay package

Deutsche Bank recognized these potential catalysts and wrote in a note to investors:

“Ahead of 3Q25 deliveries next week, we raise our near-term estimates given stronger volume in the quarter, but keep our full-year and 2026 outlook mostly unchanged. We think Elon Musk’s clear focus on Tesla’s most important efforts (Robotaxi and Optimus) and the recent compensation package have removed a large overhang on the stock going forward, will allow Tesla to benefit from being a leader in embodied AI.”

These points specifically pushed Deutsche Bank’s reasoning for pushing its price target to $435 from $345.

In terms of quarterly deliveries, the firm expects Tesla to report 461,500 for the quarter. “We expect +20% growth in China and N. America, with some decline in Europe as competition and branding continue to weigh in on demand,” Deutsche Bank said.

Wall Street firm makes shock move for Tesla Q3 delivery prediction

Overall, IR-compiled consensus estimates put deliveries at 443,100:

$TSLA IR-compiled 3Q consensus deliveries for next week is 443.1K -4.3% YoY and +15.4% QoQ. Our 3Q estimate remains 470K so we are still looking for a material beat when TSLA reports 3Q deliveries and production on 10/2. The FY’2025 consensus is 1,603.2K so -10.4% YoY. pic.twitter.com/yuFh9Igvb9

— Gary Black (@garyblack00) September 26, 2025

Tesla received other price target boosts this week, including one from Wedbush’s Dan Ives, who bumped his outlook on the stock from $500 to a Street-high $600.