Tesla: new highs, with Wedbush optimistic

(CercleFinance.com) - Tesla shares hit new highs on the New York Stock Exchange on Monday morning in the wake of favorable comments from analysts at Wedbush Securities.


In a note released over the weekend, the US broker raised its target price for the electric vehicle manufacturer's stock from $400 to $515.

In its view, Donald Trump's return to the White House could totally change the game for autonomous driving and AI players by removing the many obstacles that have hitherto stood in the way of the sector.

Wedbush estimates that this market alone could represent a windfall of at least $1,000bn for Tesla, which could take the stock to around $650 by 2025 in a favorable scenario, it continues.

In this context, the broker - which has an 'outperform' rating on the stock - does not rule out Tesla reaching a market cap of $2,000bn by the end of 2025, compared with $1,415bn today.

Tesla shares closed up over 6% at $463, exceeding the $440 mark for the first time in its history.


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