Wedbush analyst Dan Ives has increased Tesla’s price target to $550, up from $515, citing confidence in the company’s growth potential through 2025. The firm maintains a bull case price target of $650.
Ives highlighted optimism for Tesla’s autonomous and AI initiatives, noting that regulatory support under the Trump administration could be a “game changer” for the company. He expects Tesla’s autonomous vision to take shape alongside robust vehicle delivery demand, particularly in the Chinese market, contributing to a potential $2 trillion market cap by 2025.
Tesla recently launched a new Model Y in China. The Model Y has been the world’s bestselling car.
Shares of TSLA are down 1.4% for the day and the current market cap is at $1.35 trillion. To reach a $2 trillion market cap, shares of Tesla would have to reach about $624. In the past year, shares of Tesla are up 100%. Year to date, shares are up 10% and in the past three months, up 91%.
The analysis also points to Tesla’s Optimus project as a major upside catalyst, though its value is not currently factored into the price target. Ives anticipates further positive updates from Tesla during its upcoming earnings call.
Recently, JP Morgan CEO Jamie Dimon had high praise for Elon Musk, calling him “our Einstein.” Check out the clip below:
JPMorgan CEO Jamie Dimon: Elon is our Einstein. It's rational he checks our government efficiency.
“You’ve got to look at Elon, at SpaceX, Tesla, Neuralink – the guy is our Einstein. I'd like to be helpful to him and his companies as much as we can.
I think it is completely… pic.twitter.com/Z4FupNluVF
— ELON CLIPS (@ElonClipsX) January 22, 2025
