Zinger Key Points Benchmark analyst raises Tesla price target to $475, maintaining Buy rating and expecting growth from Robotaxis and robotics. Tesla's cash-rich balance sheet and regulatory progress position it for long-term expansion, despite short-term delivery challenges. GOOGL Waymo has a first-mover advantage, the analyst expressed conviction in Tesla’s camera-focused approach, which is cost-effective and scalable. He noted that the average cost of a Waymo is over six figures, well over the cost of producing a Tesla Model Y. Legg noted that Tesla could report second-quarter deliveries next week. While expectations will likely be down, the analyst noted that this has been baked into the stock, and a rebound will likely hit in the second half. He noted that the growth ahead remains in the form of expanding the Robotaxi business, model refreshes, and Optimus robots in the long term. According to Legg, Tesla is evolving from a trailblazing vehicle OEM to a high-tech automation and robotics company with an unmatched domestic manufacturing scale. The analyst noted that Tesla’s balance sheet is well-stocked with $37.0 billion in cash and equivalents. Tesla generated over $600 million in free cash flow in the first quarter and over $3.5 billion in 2024, providing plenty of fresh powder to fund growth opportunities. Legg projected second-quarter revenue of $22.7 billion and EPS of $0.33. Price Action: TSLA stock was up 0.39% at $328.79 at the last check on Wednesday. Read Next: