Wall Street cheers as Tesla gets massive price target boost, Dan Ives predicts a golden age of autonomous growth

Wall Street is super excited about Tesla again, even though the company has had bad news lately. Tesla has been in the news for some bad stuff lately, but a company called Wedbush still believes in it. Dan Ives, a top analyst at Wedbush, just gave Tesla a huge boost, he raised Tesla’s stock price target from $350 to $500, says reports.

He said this is because we’re entering a “golden age of autonomous” tech, which means self-driving cars and robots. Ives even thinks Tesla’s market value could reach $2 trillion by the end of 2026, but only if everything goes super well, he calls it the “bull case”, as per reports.

The big reason? Musk declared that by the end of June, Austin will see the launch of Tesla’s robotaxi. Ives says this is a “key next chapter of growth.” Ives says this is a huge chance for Tesla to make even more money. He doesn’t see Tesla as just a car company, he sees it as a tech company that’s changing the game.
Ives believes Tesla is part of the big AI revolution, just like Nvidia, Microsoft, Palantir, Amazon, Meta, OpenAI, and Alphabet. He thinks Tesla is the most undervalued AI company right now, meaning it’s worth more than people think. The main reason? Tesla’s Full Self-Driving software. It’s already being used more widely now.

Ives also believes that over 50% of Tesla owners might start using FSD, which would change Tesla’s profits and business model in a big way.He says the combo of AI and self-driving tech is worth at least $1 trillion to Tesla, according to the reports.

But there are problems too, Tesla’s FSD has had issues with safety and government rules for years. FSD still needs a human driver, it’s not 100% self-driving yet. Other companies are also working on robotaxis, like Alphabet, Uber, and Baidu.Still, Ives says Tesla is better than the rest because it’s so big and global. He thinks Tesla could even sell or license its tech to other car companies around the world. Wedbush is still telling investors to buy Tesla stock, they call it an “Outperform” rating. But Ives warns that Tesla stock will have ups and downs, and says building something huge takes time, “Rome wasn’t built in a day.”

FAQs

Q1. What is Tesla’s new stock price target?
Dan Ives from Wedbush raised it to $500.

Q2. When is Tesla’s robotaxi expected to launch?
By the end of June as per Elon Musk.