As Tesla Inc. (NASDAQ: TSLA) stock climbed more than 16% over the past 30 days, through September 3, 2026, coinciding with the company’s Cybercab event, Mickey Legg, a Wall Street analyst at StoneX, has set a new target at its all-time high (ATH) over the next 12 months.
Legg reiterated a ‘Buy’ rating for Tesla stock, according to a note sent to clients on Thursday. This analyst maintained the firm’s 12-month price target for TSLA at $475.
With TSLA price hovering at about $373.02 at the time of writing, Legg signals a potential 27.34% upside over the next 12 months. This bullish thesis was issued despite the underlying uncertainty surrounding the company’s ability to capitalize on its competitive edge against Waymo, an autonomous driving technology company that develops and operates self-driving taxi services.
“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.
Additionally, he reaffirmed a buy rating since Cybercab, a car that operates on a modified version of Tesla’s Full Self-Driving (FSD) software, is set to become hailable through the existing Robotaxi app in Austin, alongside or in place of the Model Y already in service.
Notably, Tesla argues that this car uses 165 Watt-hours per mile, is equipped with a 48 kilowatt-hour battery pack, achieves 418 miles of range in laboratory testing, and has a target price of under $30,000. As such, Legg concluded that these specifications make it the most efficient electric vehicle the company has ever produced.
Is it a good time to buy Tesla stock?
Although StoneX believes that Tesla stock could rally towards its ATH over the next 12 months, 28 analysts surveyed by TipRanks have issued a ‘Moderate Buy’ rating for the same period. As of press time, these 28 analysts have set an average 12-month price target of $377, suggesting possible consolidation.
Among these surveyed experts, the highest TSLA price forecast is $505, while the lowest is $24.86.
TSLA price performance
Year-to-date (YTD), TSLA’s price has fallen by 14.85%, thus lowering the company’s market capitalization to $1.4 trillion at the time of publication.
As a result, if Tesla’s two-seat vehicle gains traction over the coming months, the stock’s past 30-day uptrend could continue to hit StoneX’s target.
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