Full speed ahead: Tesla lands higher price targets from Wedbush

Tesla (NASDAQ:TSLA) is on watch for more gains in the week ahead after Wedbush Securities boosted its base case price target to $515 and set a bull case PT of $650.

Analyst Dan Ives said the firm believes the Trump White House over the next four years will be a “total game changer” for the autonomous and AI story for Tesla (TSLA).

“We estimate the AI and autonomous opportunity is worth at least $1 trillion alone for Tesla and we fully expect under a Trump White House these key initiatives will now get fast tracked as the federal regulatory spiderweb that Musk & Co. have encountered over the past few years around FSD/autonomous clears significantly under a new Trump era,” wrote Ives.

Tesla (TSLA) is seen cruising to a $2 trillion market cap by the end of 2025 as the company’s autonomous vision starts to take shape and delivery demand from the core China market stabilizes. Worried about trading multiples? An accelerated timeline for the Cybercab initiative is expected by Wedbush to support a lofty valuation over the next year.

Notably, Ives noted that the one-year price targets on TSLA conservatively assume no value today for the Optimus humanoid robot business, which is anticipated to be a major upside catalyst for the Tesla (TSLA) story over the coming years.

Shares of Tesla (TSLA) are up more than 30% over the last six weeks to more than double the returns for Rivian Automotive (RIVN) and Lucid Group (LCID) over the same time period. Meanwhile, shares of Detroit automakers Ford Motor (F) and General Motors (GM) have spun lower over the last six weeks.