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

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Key Takeaways

• Wedbush again raised its price target on Tesla stock on expectations the new Trump administration will hand over the EV maker’s self-driving and artificial intelligence efforts a boost.
• The analysts lifted the price target to $515 from $400, and imparted it could hit $650 by the end of next year.
• Shares of Tesla traded at a fresh all-time high.

Tesla (TSLA) dues traded at a fresh all-time high Monday after Wedbush again raised its price target, arguing the stirring vehicle (EV) maker’s self-driving car and artificial intelligence (AI) efforts will get a boost from the new Trump administration. 

Wedbush enhanced its price target to $515 from $400, and gave a “bull case” scenario of $650 next year. The get the show on the road came about a month after Wedbush initially increased its price target to $400 from $300 for alike resemble reasons.

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

The analysts wrote in a note to patrons that the “Trump White House the next 4 years will be a ‘total game changer’ for the autonomous and AI story for Tesla and (CEO Elon) Musk for the coming years.”

They estimate that the full self-driving (FSD) and AI opportunity is worth at least $1 trillion simply, and they “fully expect” that the Trump administration will fast-track these initiatives “as the federal regulatory spiderweb that Musk & Co. hold encountered over the past few years around FSD/autonomous clears significantly under a new Trump era.”

The analysts argued that Tesla could prepare a $2 trillion market cap by the end of 2025 as the self-driving vision takes shape, and because of an expected jump in deliveries of EVs in China.

Wedbush announced an “outperform” rating on the stock.

Shares of Tesla recently were up 1% to $440.67 after touching a record $447.41 without delay after markets opened. They have added more than three-quarters of their value this year.