Tesla Stock Surges as Wedbush Reiterates ’Outperform’ Rating, Eyes $500 Target

Tesla’s stock (TSLA) has roared back with a 20% gain over the past month, fueled by bullish analyst sentiment. Wedbush reaffirmed its ’Outperform’ rating, projecting a climb toward $500 as Elon Musk shifts focus back to Tesla. The automaker’s rebound follows investor concerns over Musk’s governmental role, now alleviated by his commitment to prioritize Tesla.

Wall Street consensus remains positive, with an average price target of $306 implying 15% upside. Wedbush stands apart, anticipating Musk’s intensified involvement could drive Tesla to new all-time highs. The firm cites Musk’s departure from political advisory roles as a catalyst for renewed focus on Tesla’s autonomous driving ambitions.

Robotaxi development emerges as a potential game-changer. Musk’s vision for autonomous transportation could provide the next leg up in Tesla’s valuation journey, though technical and regulatory hurdles remain.