Will Tesla Stock Hit $600 This Year?

Tesla shares have rebounded from April lows near $391.95 to around $426, but remain below the 52-week high near $498.83. A $424.84 24/7 Wall St. price target implies roughly flat performance and a hold recommendation with 90% confidence. The outlook is shaped by Q1 2026 results showing revenue growth, higher non-GAAP EPS, improved automotive gross margin, and strong increases in active FSD subscriptions and services revenue. Upside scenarios depend on faster Robotaxi expansion across multiple cities and Optimus production scaling toward 1 million robots per year at Fremont. Bull cases also cite planned 2026 volume production for Cybercab, Tesla Semi, and Megapack 3, plus AI5 processor progress and live unsupervised Robotaxi rides.

"Our proprietary model has a different view. Tesla sits roughly 17% below its 52-week high of $498.83, and reaching $600 in 2026 requires steep gains. Our 24/7 Wall St. price target for Tesla is $424.84, implying -0.27% from current levels. Our recommendation is hold with a 90% confidence reading. We view Tesla as fairly priced today and do not see $600 as a realistic 2026 outcome."

"Real upside could come from faster-than-expected Robotaxi expansion across Dallas, Houston, Phoenix, Miami, and Las Vegas, or from Optimus production lines exceeding 1 million robots per year capacity at Fremont. Consider our target one datapoint among many. From April Lows Back to $426, Tesla has rallied 9.94% over the past month off the April bottom near $391.95, though shares remain down 5.27% year to date."

"Q1 2026 results reset the narrative: revenue of $22.39 billion rose 15.78% YoY, non-GAAP EPS of $0.41 beat consensus of $0.3592, and automotive gross margin expanded to 21.1% from 16.2%. Active FSD subscriptions climbed 51% YoY to 1.28 million, and Services revenue jumped 42%. The post-earnings recovery has been real, but shares still trade at 421x trailing earnings."

"Bulls have plenty to work with. Cybercab, Tesla Semi, and Megapack 3 are slated for volume production in 2026. Optimus lines at Fremont and Gigafactory Texas target 1 million and 10 million robots per year capacity, respectively. The AI5 inference processor completed tape-out in April, and unsupervised Robotaxi rides are now live in Dallas and Houston."

Read at 24/7 Wall St.