Tesla Stock Hits New All-Time High as Wedbush Boosts Price Target Again

Tesla (TSLA) shares traded at a recent all-time excessive Monday after Wedbush once more raised its value goal, arguing the electrical car (EV) maker’s self-driving automotive and synthetic intelligence (AI) efforts will get a lift from the brand new Trump administration. 

Wedbush lifted its value goal to $515 from $400, and gave a “bull case” situation of $650 subsequent yr. The transfer got here a few month after Wedbush initially elevated its value goal to $400 from $300 for comparable causes.

Wedbush Says Trump Administration Will Be ‘Total Game Changer’ for Tesla

The analysts wrote in a observe to shoppers that the “Trump White House the subsequent 4 years will likely be a ‘whole recreation changer’ for the autonomous and AI story for Tesla and (CEO Elon) Musk over the approaching years.”

They estimate that the total self-driving (FSD) and AI alternative is price no less than $1 trillion alone, they usually “totally count on” that the Trump administration will fast-track these initiatives “as the federal regulatory spiderweb that Musk & Co. have encountered over the previous few years round FSD/autonomous clears considerably beneath a brand new Trump period.”

The analysts argued that Tesla may have a $2 trillion market cap by the top of 2025 because the self-driving imaginative and prescient takes form, and due to an anticipated bounce in deliveries of EVs in China.

Wedbush maintained an “outperform” ranking on the inventory.

Shares of Tesla lately had been up 1% to $440.67 after touching a file $447.41 quickly after markets opened. They have added greater than three-quarters of their worth this yr.