On Wednesday, Wedbush Securities increased its price target on Tesla (NASDAQ:TSLA) shares to $550, up from the previous $515. The firm continues to recommend an Outperform rating for the electric vehicle manufacturer. According to InvestingPro data, analyst targets for Tesla currently range from $125 to $528, with the stock showing a remarkable 103% return over the past year.
The adjustment in the price target reflects Wedbush's heightened confidence in Tesla's growth trajectory, particularly regarding the company's delivery demand outlook for 2025 and the accelerated progress toward autonomous driving technology.
According to Wedbush, recent interactions with political figures in Washington D.C. have bolstered the firm's belief that the Trump Administration will significantly advance Tesla's autonomous and artificial intelligence initiatives over the next four years. While Tesla maintains a GOOD financial health score on InvestingPro, analysts expect revenue growth of 3% for FY2024.
The analyst from Wedbush expressed optimism about the potential impact of the current political climate on Tesla's business, calling the next four years with the Trump White House a "total game changer" for Tesla's autonomous and AI narrative. This sentiment underscores the belief that supportive policies will benefit Tesla and its CEO, Elon Musk, as they push forward with innovative technologies.
Furthermore, Wedbush stands by its bull case scenario, setting a target of $650 for Tesla stock by 2025. This optimistic outlook is based on the expectation that Tesla will continue to lead in the electric vehicle sector and make significant strides in autonomous driving capabilities.
The firm's maintained Outperform rating indicates a positive forecast for Tesla's performance in the market, suggesting that the stock is expected to perform better than the overall stock market in the analyst's view. Tesla's progress in the electric vehicle industry and the anticipated support from the Trump Administration appear to be key factors in Wedbush's positive assessment.
In other recent news, Tesla has been the subject of several key developments. Morgan Stanley (NYSE:MS) reaffirmed its Overweight rating on Tesla, emphasizing the company's potential role in the shift towards intelligent machines manufactured in America.
Simultaneously, Wells Fargo (NYSE:WFC) analysts indicated that the anticipated termination of the $7,500 EV buyer tax credits could significantly impact Tesla, as most of their models are currently eligible for these credits.
In other updates, Bernstein tech analyst, known for covering tech stocks including Tesla, announced his retirement. Global Equities Research analyst suggested that Tesla's Cybertruck needs to be smaller and cheaper to boost demand.
Goldman Sachs (NYSE:GS) reaffirmed its Neutral rating on Tesla, noting significant improvements in Tesla's Full Self-Driving capabilities and projecting the initiation of Tesla's robotaxi business in the second half of 2026. These are some of the recent developments that have unfolded in the ever-evolving narrative of Tesla.
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