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On June 5, after JPMorgan Chase replaced its chief automotive industry analyst, its bearish stance on Tesla has undergone a significant transformation. Previously, JPMorgan Chase appointed Rajat Gupta to replace Ryan Brinkman, who had long been bearish on Tesla, to oversee automotive sector analysis. Upon assuming his position, Gupta raised JPMorgan Chase's target price for Tesla to $475 and upgraded the stock rating to the equivalent of a hold. Brinkman has consistently recommended selling Tesla shares since 2015, even predicting that its stock price would plummet to $145 by the end of the year. Gupta, who previously worked under Brinkman, highly praised the unique advantages of Tesla's vertically integrated model in a report released on Friday, believing that this advantage has not yet been fully recognized and valued by the market.
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