Tesla shares get a lift after BofA's bullish rating

Tesla's TSLA.O shares up 3.7% at $407.10 on Weds after BofA Global Research reinstates coverage at 'buy'

Brokerage assigns PT of $460, implying 17% upside to stock's last close

TSLA is "the current leader in consumer autonomy", BofA writes in note, adding it expects co to quickly become a leader in robotaxi services, given its ability to scale more profitably than competitors

BofA says TSLA's core electric vehicle business represents ~21% of co's total value, while robotaxi is 52%, full self-driving 19%, energy generation and storage around 6% and humanoid robot Optimus 2%

TSLA on Jan 28 posted Q4 results beat and said its Cybercab robotaxi production plans remain on track for this year

Avg rating of 54 brokerages is "hold"; median PT of $439 up from $425 a month ago and $408 on Dec 4, per LSEG data

With move on the session, stock down ~10% YTD vs nearly 2% drop in the Nasdaq .IXIC. Shares off ~18% from their Dec 22 record intraday high of $498.83