Tesla: the rally continues, with Wedbush in support

(CercleFinance.com) - Tesla shares continued their spectacular rally on Monday, with encouraging comments from Wedbush analysts adding to the positive effect of Donald Trump's victory.


At around 11:15 a.m. (New York time), the electric-vehicle manufacturer was the second-biggest gainer on the S&P 500 index, with a 7.6% gain, bringing its surge since the November 5 presidential election to more than 42%.

In a note released in the morning, analysts at Wedbush Securities said they had raised their price target on the stock from $300 to $400 in anticipation of Trump's return to the White House.

The American broker, who maintains an 'outperform' rating on the stock, believes that the Republican candidate's arrival in power will be a 'game-changer', giving a boost to the development of AI and autonomous driving via deregulation of the sector.

According to its calculations, these two elements could represent, for Tesla alone, a windfall of the order of 1.000 billion in the coming years.

With this prospect, Tesla's market capitalization could reach 1,500 billion, or even 2,000 billion dollars within 12 to 18 months, he points out in his study, compared with around 1,000 billion today.

Copyright (c) 2024 CercleFinance.com. All rights reserved.