Although Tesla Inc. (NASDAQ: TSLA) stock has fallen 15.55% so far in 2026, trading at $368.74 on September 25, Tom Narayan, a Wall Street analyst at RBC Capital, expects a rally towards its 52-week peak over the next 12 months.
Narayan reiterated a ‘Buy’ rating for Tesla stock, according to a note sent to clients on Friday. He also maintained the firm’s 12-month price target for TSLA at $480.
With Tesla stock trading at $368.74 at the time of writing, he signals a possible 30.17% increase over the next 12 months. This analyst based his bullish thesis for TESLA on the company’s clear evidence of superior near-term execution and volume strength.
Moreover, Narayan projects that Tesla could hit 464,000 vehicles for its third-quarter deliveries, a figure that decisively exceeds the prevailing consensus of approximately 454,000 units.
Meanwhile, RBC Capital highlighted that Tesla’s Robotaxi represents the single most compelling growth opportunity, despite Elon Musk, the company’s CEO, launching Tesla Semi, an all-electric commercial semi-truck, on September 24, 2026.
Is Tesla a good stock to buy?
At press time, 25 Wall Street analysts surveyed by TipRanks over the past three months have set an average rating of ‘Moderate Buy’. These analysts have set a mean price target of $388.85, which represents a 5.11% upside.
TSLA price performance
Over the last 12 months, Tesla stock has declined 16.27%. As such, the company’s market capitalization has declined to $1.5 trillion.
Consequently, RBC Capital believes that Tesla stock could end its 52-week downside with a potential 30% rally over the next 12 months. However, collectively, Wall Street analysts are moderately bullish on TSLA over the next 12 months.
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