Tesla runs to new high after Mizuho joins the bull camp

Tesla (NASDAQ:TSLA) moved higher in early trading on Tuesday after Mizuho Securities upgraded the electric vehicle stock to an Outperform rating and boosted near-term estimates on the Austin-based company.

Analyst Vijay Rakesh pointed to the loosening of the autonomous driving regulatory framework as providing more FSD/Robotaxi valuation upside for Tesla (TSLA). In addition, the new Trump administration policies are anticipated to position TSLA better with its lower electric vehicle cost structure relative to peers. Tesla (TSLA) is seen as positioned to outgrow global rivals with a more profitable EV roadmap that includes the low-cost Model Q/Cybercab in 2026-2027.

Mizuho’s sum-of-the-parts price target on Tesla (TSLA) is $515.

Shares of Tesla (TSLA) were up 2.85% in premarket trading on Tuesday to $476.22 after setting a new high of $463.19 on Monday. The EV stock is up about 86% on a year-to-date basis and trades with a market cap of just over $1.50 trillion. Tesla (TSLA) is a little over two weeks away from reporting Q4 deliveries and about six weeks away from issuing its Q4 earnings report.