Wedbush ups Tesla target by $115 with Trump ‘total game changer’

Wedbush analyst Daniel Ives raised the firm’s price target on Tesla (TSLA) to $515 from $400 and keeps an Outperform rating on the shares. The analyst believes the Trump’s White House in the next four years will be a “total game changer” for the autonomous and artificial intelligence story for Tesla. Wedbush’s “bull case” is $650 per share for Tesla in 2025. The firm estimates Tesla’s AI and autonomous opportunity is worth “at least” $1 trillion alone and fully expects that under a Trump White House, “these key initiatives will now get fast tracked as the federal regulatory spiderweb” the company has encountered over the past few years “clears significantly.” Tesla could reach a $2 trillion market cap by the end of 2025 as the company’s autonomous vision starts to take shape along with “very solid” delivery demand from the China market, the analyst tells investors in a research note. Wedbush says its price target “conservatively assumes no value today” for Optimus, which could be a “major upside catalyst” for the Tesla story over the coming years.