Key Takeaways
- Tesla shares hit another record high Tuesday before edging lower.
- The stock has surged since the presidential election on optimism that Tesla will benefit from Musk's ties to President-elect Donald Trump, aiding several of its efforts.
- Mizuho analysts said Tesla could see tailwinds under the Trump administration, such as looser regulations around autonomous driving.
Tesla (TSLA) shares hit a second record high 澳洲幸运5官方开奖结果体彩网:in as many days Tuesday after another analyst upgraded their rati🧸ng of the elecꦰtric vehicle maker.
Mizuho lifted its Tesla rating to “outperform” and raised its price target to $515 from $230 in a note Tuesday. That would represent an 11% to Monday's close; the stock was recently up about 1% at near $469 after earlier rising above $480. Wall Street's median target is below recent levels at closer to $300.
The firm sees Tesla as having “idiosyncratic tailwinds” over the next four years of the Trump administration, including the potential loosening of regulations on autonomous driving and the repeal of a consumer EV tax credit that could benefit Tesla 澳洲幸运5官方开奖结果体彩网:relative to its peers.
Shares of Tesla have surged 90% in 2024 with most of those gains coming 澳洲幸运5官方开奖结果体彩网:after the Nov. 5 election on optimism that CEO Elon Musk’s ties to President-elect Donald Trump will lift t🙈he company's various businesses.
The Mizuho note comes a day after Wedbush 澳洲幸运5官方开奖结果体彩网:lifted its price target to $515 from $400, and gave a "bull case" scenario of $650 next year. Wedbush's analysts argued that Tesla could have a $2 trillion market cap by the end of 2025 as the self-driving vision takes shape, and because of an expected jump in deliveries of EVs in China.