Summary
- Wedbush analyst Dan Ives increased Tesla’s price target to $515 for the second time since Trump’s election
- The company’s stock surge has exceeded $400, prompting the price target increase
- Ives believes Trump’s presidency will be favorable for Tesla’s autonomous and AI initiatives
- The firm also set a $650 bull case price target for 2025 due to AI opportunities and growth in China
- Tesla China is attracting many customers as Q4 approaches
Article
Tesla’s stock price has been on the rise following another price target increase from Wedbush analyst Dan Ives, who has raised the target to $515 from $400. This increase marks the second time the price target has been raised since President-elect Donald Trump won the election. Ives is bullish on Tesla’s prospects under the Trump administration, particularly in the autonomous and AI sectors.
Wedbush believes that the next four years under the Trump White House will be a game-changer for Tesla, especially in terms of autonomous and AI technologies. The firm also set a bull case price target of $650 for 2025, citing opportunities in AI and growth in regions like China. Ives estimates that the AI and autonomous opportunity alone is worth at least $1 trillion for Tesla, and believes the company could reach a $2 trillion market cap by the end of 2025.
Tesla China is also experiencing strong demand, with the company continuing to attract customers as the fourth quarter comes to a close. Ives acknowledges that Elon Musk’s support for Trump’s reelection campaign was a strategic move that could benefit Tesla in navigating regulatory processes for AI and FSD more efficiently. Wedbush has maintained its “Outperform” rating on Tesla’s shares, which are currently trading at around $454.68.
Investors looking to accessorize their Tesla vehicles can check out the Teslarati Marketplace for a variety of options. For questions or comments, readers can reach out to Joey Klender at joey@teslarati.com or on Twitter @KlenderJoey. News tips can also be shared by emailing tips@teslarati.com. Overall, Tesla’s stock price continues to rise as analysts like Dan Ives express optimism about the company’s future growth potential under the Trump administration.
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