Tesla Gets A Price Target Hike From Wedbush’s Dan Ives – Check Out The New Level

Wedbush analyst Daniel Ives on Friday raised the price target on EV giant Tesla (TSLA) to $600 from $500 and kept an ‘Outperform’ rating, according to TheFly, citing faith in the company’s artificial intelligence and autonomous driving initiatives.

The new price target implies an upside of about 42% from the stock’s closing price on Thursday.

Ives said in a post on X that an “accelerated AI autonomous path is now on the horizon in 2026” and added that investors are underestimating the major transformation underway. The analyst believes that AI-driven autonomous driving will be the biggest growth chapter in the EV maker’s history.

“We believe Tesla is taking major steps in advancing its AI Revolution path with autonomous and robotics front and center heading into 2026 that will be a game changer and define Tesla's future,” the analyst said in a note.

Shares of the company traded 1% higher in the pre-market session at the time of writing. On Stocktwits, retail sentiment around TSLA stock fell from ‘bullish’ to ‘neutral’ territory over the past 24 hours, while message volume fell from ‘high’ to ‘normal’ levels.

A Stocktwits user expects the stock to rally to $430.

Ives now expects Tesla robotaxis to be rolled out to over 30 U.S. cities within the next year. According to the analyst, the AI and autonomous opportunity is worth at least $1 trillion alone for Tesla. He also expressed optimism that Tesla would own about 70% of the global autonomous vehicle market over the next decade. “No other company in the world can match the scale and scope of Tesla coupled by its broadening AI footprint,” Ives stated.

The analyst also expressed hopes that the “federal regulatory spiderweb” that Tesla has encountered over the past few years around its full-self technology or autonomous driving would be cleared significantly under the Trump administration, as the President aims to stay ahead of China in the AI race, and autonomous driving “is a key factor in who wins AI.”

According to Ives, Tesla’s third-quarter delivery numbers are expected to beat Wall Street estimates due to improving demand in China. While there continues to be weak pockets in Europe, Tesla is now starting to see signs of improvement in demand, he added.

TSLA stock is up 5% this year and approximately 67% over the past 12 months.

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