Tesla is hitting new record highs! $500 is within reach!

Wall Street analysts have also been consistently raising their target prices. Analysts from Deutsche Bank, Bank of America, and Morgan Stanley have upwardly revised Tesla's target price.

Recently, Dan Ives, an analyst at Wedbush Securities, raised Tesla's target price from $400 by 29% to $515.

Ives predicts that under a bullish market, Tesla's stock price could reach $650 by 2025. This implies a 49% increase from the closing price last Friday and a potential increase in Market Cap from the current $1.5 trillion to $2 trillion. He highlights Tesla's 'Self-Driving Vision' becoming a reality and strong demand in the Chinese market, suggesting rapid growth for the company. The self-driving taxi service called Cybercab is viewed as Tesla's 'Midas Touch' and is scheduled to start services in early 2026.

Prior to this, Bloomberg reported that the Trump administration's transition team informed advisors that the Federal Framework for Fully Self-Driving (FSD) and autonomous vehicles is expected to be one of the Department of Transportation's priorities. Reuters also previously reported that the Trump team proposed to the new administration to rescind the National Highway Traffic Safety Administration (NHTSA) order requiring automakers to report accidents related to autonomous driving systems, a move clearly seen as favorable to Tesla.