Dan Ives: “The best thing that ever happened to Musk and Tesla was Trump in the White House”
Pay no mind to the fact that Tesla sales are declining around the world and analysts keep rolling back projections for its Q1 deliveries.
Tesla bull Dan Ives just added the electric vehicle company to Wedbush Securities’ “Best Ideas List,” meaning it’s a stock the firm thinks offers significant growth potential. Wedbush also reiterated its outperform rating and $550 price target.
Why?
Ives expects Tesla to finally release its low-cost sub-$35,000 car ahead of the summer, which will “help drive pent-up EV consumer demand.” No word on whether it’ll have a steering wheel, though.
Despite not yet existing in a meaningful way, “autonomous and Optimus will represent 90% of the valuation of the Tesla story and create a company with a valuation that exceeds $2 trillion.”
He estimates CEO Elon Musk’s relationships with DOGE and President Trump represent a risk of less than 5% of Tesla sales globally.
Ives thinks Musk will balance his time between DOGE, Trump, and Tesla better this year, and that Musk’s political machinations will ultimately pay off. “We continue to believe the best thing that ever happened to Musk and Tesla was Trump in the White House as this will create a deregulatory environment with a federal autonomous roadmap central to the Tesla golden strategic vision,” the note read.
