Tesla’s stock price is on the rise, driven by momentum ahead of a major event in June 2025. The electric vehicle manufacturer is set to unveil its autonomous robotaxis, allowing passengers to ride in self-driving cars with no human driver present.
Analyst Daniel Ives of Wedbush Securities has raised his price target for Tesla’s stock from $315 to $500 per share, citing significant upside potential of 46%. Ives believes that the robotaxi launch will be a key driver of growth for the company.
Ives has been a vocal supporter of Tesla and its CEO Elon Musk. However, he had reduced his price target earlier this year due to concerns about Musk’s leadership and political affiliations. But with Musk refocusing on Tesla, Ives’ outlook on the company has changed.
The analyst notes that Tesla still faces challenges, particularly in Europe. However, he believes that the company’s focus on autonomous driving technology, known as the AI Revolution, will drive growth in the long term.
The robotaxi launch is seen as a significant event, with many considering it the next frontier of transportation. Ives’ new price target suggests that he is confident in Tesla’s ability to succeed in this market.
However, not all analysts are convinced. Morgan Stanley analyst Adam Jones has maintained a $410 price target on Tesla stock but noted that its robotaxis will feature “a lot of tele-operators”, meaning they won’t be fully autonomous. Despite this, both Ives and Jones are bullish on Tesla’s prospects.
Source: https://www.thestreet.com/technology/analyst-sets-eye-popping-tesla-stock-price-target