Tesla Stock Attained New Highs as Wedbush Increases Target Price Again

The Key Takeaways

• Wedbush again raised its price target on Tesla stock on expectations the new Trump administration will give the EV maker's self-driving and artificial intelligence efforts a boost.
• The analyst raised the price goal to $515 and stated that the stock could reach $650 at the end next year.
• Tesla shares traded at an all-time record high.

Tesla’s (TSLA), shares rose to a new all-time record high on Monday, after Wedbush raised its target price. Wedbush argued that the Trump Administration will boost Tesla’s (TSLA), self-driving cars and artificial intelligence efforts. 

Wedbush raised its target price to $515, up from $400. “bull case” Imagine a scenario where you get $650 in next year. This move was made about a week after Wedbush raised its initial price target from $300 to $400 for the same reasons.

Wedbush Says Trump Administration Will Be 'Total Game Changer' for Tesla

Analysts wrote to their clients in a letter that this was the case. “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 over the coming years.”

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

Analysts argued that Tesla’s market capitalization could reach $2 trillion by 2025, as its self-driving concept takes shape and due to an increase in EV deliveries in China.

Wedbush maintained an "outperform" rating on the stock.

Tesla shares were recently up 1% at $440.67, after reaching a new record of $447.41 shortly after the markets opened. More than three quarters of the value has been added this year.

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