Tesla Inc. (NASDAQ: TSLA) stock climbed more than 16% over the 30-day period leading up to September 3, 2026, coinciding with the company’s Cybercab event. Amid this movement, StoneX Wall Street analyst Mickey Legg has set a new target at the stock's all-time high over the next 12 months.
Legg reiterated a 'Buy' rating for Tesla stock in a note sent to clients, maintaining the firm's 12-month price target at $475. With the stock hovering at approximately $373.02, the target signals a potential 27.34% upside. This bullish thesis was issued despite underlying uncertainty regarding Tesla's ability to capitalize on its competitive edge against Waymo, an autonomous driving technology company.
“It remains unclear whether a two-seat vehicle priced at a 55% discount to Waymo on the same route can generate sufficient fare per mile for contribution margin,” Legg noted.
The analyst reaffirmed the buy rating because the Cybercab, which operates on a modified version of Tesla’s Full Self-Driving (FSD) software, is scheduled to become hailable through the existing Robotaxi app in Austin. It will be offered alongside or in place of the Model Y already in service.
Tesla states that the vehicle uses 165 Watt-hours per mile, features a 48 kilowatt-hour battery pack, achieves 418 miles of range in laboratory testing, and carries a target price of under $30,000. Legg concluded that these specifications make it the most efficient electric vehicle the company has ever produced.
Meanwhile, a broader consensus presents a more cautious outlook. A total of 28 analysts surveyed by TipRanks issued a 'Moderate Buy' rating for the same 12-month period, setting an average price target of $377. Among the surveyed experts, the highest price forecast stands at $505 and the lowest at $24.86.
On a year-to-date basis, TSLA's price has fallen by 14.85%, bringing the company's market capitalization to $1.4 trillion.
