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Wedbush Securities has raised its price target on Tesla (TSLA) to a street-high $515 per share, maintaining an Outperform rating on the stock. The analyst behind the call, Managing Director and Global Head of Technology Research Dan Ives, joins Market Domination to weigh in on his Tesla outlook.
Ives highlighted the potential impact of the upcoming Trump administration, calling it "a total game changer for Musk." He believes the autonomous technology segment could be valued at $2 trillion or higher by 2025.
Regarding potential tariffs, Ives suggests the "bromance" between Musk and Trump will allow Tesla to thrive. "In our view, Tesla ultimately wins because of their presence in China," he explained. Ives believes Musk "made a bet for the ages on Trump" and expects the stock to continue rising.
"In some ways, they both need each other," Ives stated. He anticipates their alliance will strengthen, potentially collaborating on AI innovation, China tariff discussions, and Federal Trade Commission (FTC) concerns. "It's a bullish environment for Big Tech," he told Yahoo Finance.
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This post was written by Angel Smith