Tesla (TSLA) is on a 70% tear since Donald Trump's election win, as investors speculate that self-driving is coming soon, with the Trump administration easing the regulatory path for autonomous vehicles.
TSLA shares fell nearly 5% to 431.66 during market action on Friday. The stock gained 2.5% on the week and is up 25% in December.
On Dec. 18, Barclays analysts wrote the post-election rally in shares of Tesla reflects a "sharp disconnect" between the stock and the company's fundamentals. The firm wrote that technicals and options are playing an outsized role in the rally and that Tesla shares are now best compared to cryptocurrencies
Meanwhile, Wedbush Securities analyst Dan Ives, a longtime Tesla bull, recently raises his Tesla stock price target to 515, up from 400.
"We believe the Trump White House the next 4 years will be a 'total game changer' for the autonomous and AI story for Tesla and Musk over the coming years. Our bull case is $650 for 2025," Ives wrote.
Adam Jonas, Morgan Stanley's high-profile auto analyst and a fellow TSLA bull, also hiked his Tesla stock price target to 400, up from 310, reiterating an overweight rating on the EV giant. Jonas also maintained Tesla as a "top pick."
Elon Musk's entry into the political sphere has expanded investor thinking around Tesla's fundamental outlook – TSLA shares have since responded by rallying beyond our prior 310 price target," Jonas wrote.
With Trump winning the White House, and excitement around autonomous vehicles, the top question for investors is: when is it a good time to buy or sell Tesla stock
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