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Tesla (NASDAQ: TSLA) Rally Live: Wall Street is Bullish Because of This
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Key Points
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Trade talks may be helping. Not only did the U.S. and U.K. unveil a framework for a potential trade deal, but China and the U.S. are nearing a potential trade deal.
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Tesla May Have Another 50% of Upside
At the moment, analysts have a price target of $450 at the high end, which gives Tesla a potential upside of 50%.
Helping, trade talks may be helping. Not only did the U.S. and U.K. unveil a framework for a potential trade deal, but China and the U.S. are nearing a potential trade deal, too. Plus, the company is just weeks away from its robotaxi launch in June.
In March, TD Cowen upgraded the TSLA stock to a buy rating with a price target of $388.
“While we are valuation-/sentiment-minded when recommending stocks, we agree with the underlying notion that Tesla cannot be compared to other automaker stocks, not because it isn’t an ‘auto company’, but because it’s arguably best positioned to capture sizable opportunities that exist across auto/mobility and adjacent markets,” said the firm, as quoted by CNBC.
This article will be updated throughout the day, so check back often for more daily updates.
Shares of Tesla (NASDAQ: TSLA) are up more than 4.4%, or $12.58 on the day. Even better, the $933.5 billion electric vehicle stock is now above $307, which puts it above its prior three-month high of $303.94 a share.
Granted, recent earnings weren’t great. Revenue and earnings per share missed expectations, with auto revenue down 20% year over year.
However, there’s still plenty to like about Tesla moving forward.
For one, trade talks may be helping. Not only did the U.S. and U.K. unveil a framework for a potential trade deal, but China and the U.S. are nearing a potential trade deal, too. “Optimism around the China tariff and trade tensions scaling down is a boost for Tesla,” Wedbush analyst Dan Ives added, as quoted by Barron’s.
Two, Tesla now holds 11,509 Bitcoin, now valued at just over $1.18 billion.
Three, the company is just weeks away from its robotaxi launch in June.
In fact, according to Reuters, “Musk said Tesla will first use existing Model Y vehicles outfitted with self-driving software. The automaker is also developing a dedicated autonomous model, dubbed the Cybercab, with production starting next year. Musk said he expects autonomous driving technology will begin to ‘affect the bottom line of the company, and start to be fundamental” by the second half of 2026.’”
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