While the bank raised its price target on the stock to $490 from $400, analysts caution that “execution risk is high and TSLA is trading at a level that captures much of our base case long-term potential from core autos, robotaxi, Optimus, and energy generation & storage.”

BofA Securities analyst John Murphy downgraded shares of electric-vehicle maker Tesla to Hold, but his new target price implies about 17% upside.

Tesla Inc.’s stock slipped 0.9% Tuesday, after Bank of America downgraded the stock to neutral from buy, arguing that it already reflects the long-term potential of such items as robotaxi and energy storage,

As previously reported, BofA analyst John Murphy downgraded Tesla (TSLA) to Neutral from Buy with a price target of $490, up from $400. Since