CICC: Raises Tesla's target price to $360, maintains "outperform" rating.

CICC released a report stating that Tesla's second-quarter performance met market expectations, with an improvement in the gross profit margin of its automotive business. The company also plans to mass produce lower-priced models in the second half of the year, with the goal of producing a million robots annually within five years. The report indicates that, despite facing multiple challenges, Tesla's smart businesses such as smart driving and robotics are expected to align with its strategic direction. Taking into account the impact of global trade and US policies, profit forecasts for 2025 and 2026 have been revised down by 8% and 6% to $10.7 billion and $14.4 billion, respectively. Due to the commercialization of multiple innovative businesses within the company, the target price has been raised by 20% to $360, which corresponds to a projected price-to-earnings ratio of 14 times for this year, maintaining a "outperform" rating.