Tesla price target raised by $85 at BofA, here’s why

BofA raised the firm’s price target on Tesla to $350 from $265 and keeps a Buy rating on the shares following the U.S. election results. The firm’s analysis has shown that Tesla should be “relatively indifferent directly to most policies” discussed in BofA’s recent election note, but may benefit from a shift to a federal regulation of autonomous vehicles and full self-driving, or FSD, nationwide, the analyst tells investors. In addition, it is difficult to judge how Elon Musk’s increasingly close public relationship with President Trump could benefit Tesla, but “this needs to be monitored closely,” says BofA, which now values the stock at 10-times EV/Sales, up from 8-times that metric previously.