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Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Monday expressed hope that the corporate’s inventory will contact $690 sooner or later, with out specifying a timeline.
What Occurred: “Sooner or later sooner or later, I believe that may occur,” Musk wrote on X in response to an X consumer who mentioned that they’re now ready for the inventory to hit $690.42.
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Tesla inventory closed 6.14% greater at $463.02 on Monday. The inventory is up 86.39% year-to-date, in line with knowledge from Benzinga Professional, due to its rally since Donald Trump‘s landslide victory within the U.S. Presidential elections.
Analyst Take: Mizuho Securities analyst Vijay Rakesh on Monday elevated the worth goal on Tesla to $515 from $230 and upgraded the inventory’s score from “impartial” to “outperform.”
Wedbush analyst Dan Ives earlier this week additionally raised the worth goal on the EV large’s inventory from $400 to $515. “…we imagine the Trump White Home might be a ‘complete recreation changer’ for the autonomous and AI story for Tesla and Musk over the approaching years,” Ives mentioned in a submit on social media platform X.
Why It Issues: Many, together with Ives, are hopeful that Musk’s newly solid friendship with President-elect Donald Trump will allow a greater surroundings for the deployment of autonomous automobiles whereas his different insurance policies in opposition to EVs will hurt smaller rival gamers, successfully lowering competitors for Tesla.
Tesla inventory has surged over 60% because the 2024 election outcomes had been introduced. As per Benzinga’s evaluation of technical indicators, the inventory value is excessive and overbought.
Tesla shares are buying and selling at a value practically 126 instances over its 2025 earnings, in line with Benzinga Professional knowledge. On the similar time, the common ahead price-to-earnings of its friends stand at 25.75 instances, implying that Tesla is over 5 instances costlier than its business’s common.
