Wedbush analyst Daniel Ives maintained a Buy rating on Tesla (TSLA – Research Report) yesterday and set a price target of $550.00.
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Daniel Ives has given his Buy rating due to a combination of factors that highlight Tesla’s strategic positioning for future growth despite current challenges. One of the key reasons is the potential for a significant increase in Tesla’s valuation driven by federal deregulatory policies in the autonomous vehicle sector. This environment is expected to unlock substantial value for Tesla, fueling optimism about its future performance.
Moreover, despite concerns about Elon Musk’s focus on other ventures like DOGE, Ives believes Tesla is on the cusp of launching a new mass-market vehicle and advancing its autonomous and robotics capabilities. These developments, along with the anticipated release of the Austin unsupervised Full Self-Driving (FSD) feature, are seen as pivotal growth catalysts. Ives also considers Tesla’s innovation and production milestones to remain robust, reinforcing his confidence in the company’s long-term growth prospects and justifying a positive outlook.
Ives covers the Technology sector, focusing on stocks such as Palantir Technologies, Apple, and Salesforce. According to TipRanks, Ives has an average return of 7.4% and a 51.80% success rate on recommended stocks.
In another report released on February 18, Morgan Stanley also maintained a Buy rating on the stock with a $430.00 price target.