Patrick Pleul/picture alliance via Getty Images
The Key Takeaways
- Tesla shares climbed to another new record Tuesday.
- The stock has surged since the presidential election on optimism that Tesla will benefit from Musk's ties to President-elect Donald Trump, aiding several of its efforts.
- Mizuho’s analysts believe Tesla will benefit under Trump, including from a softer regulatory environment for autonomous vehicles.
Tesla shares (TSLA), which are owned by the electric car maker, hit a record Tuesday for a second time in as many weeks after an analyst raised their ratings.
Mizuho has raised its Tesla rating from “outperform” The company raised its price goal to $515, up from $230. That would represent an 11% to Monday's close; the stock was recently up about 1% at near $469 after earlier rising above $480. Wall Street's median target is below recent levels at closer to $300.
Tesla is seen as the firm’s biggest competitor “idiosyncratic tailwinds” Tesla could gain compared to other EV manufacturers if the Trump Administration loosens regulations regarding autonomous driving.
Tesla’s shares are up 90% by 2024. Most of these gains came after the election of November 5, on hopes that Elon’s close ties with President-elect Donald Trump would boost Tesla’s business.
Mizuho’s announcement comes just a few days after Wedbush increased its price target from $400 to $515 and announced a “bull case” a scenario of $650 in next year. Wedbush analysts said that Tesla’s market capitalization could reach $2 trillion by 2025, as self-driving cars take shape and due to an increase in EV deliveries in China.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
