Tesla's advances in autonomous driving and robotaxi services could lead to a significant growth, according to Bank of America. The bank has reinstated its coverage of the electric vehicle maker at a buy rating, with an analyst's $460 price objective suggesting an upside of 17%. The bank believes that Tesla's ability to scale more profitably than competitors will lead to significant growth in the industry. The company's shares have risen by 44% over the past 12 months. The analyst believes that robotaxis is the most significant opportunity for Tesla, currently operating in San Francisco and Austin, with seven additional markets expected to come online in the first half of the year. Additionally, he sees potential upside from Tesla's energy business, which he values at over $30 billion.