Tesla stock has been on a record-breaking streak, hitting a new all-time high for the fifth consecutive day on Tuesday. The surge in Tesla's stock price has been attributed to bullish sentiment on Wall Street and recent price target upgrades by analysts.
Analysts from Wedbush and Mizuho have increased their price targets for Tesla, with Mizuho analysts even more than doubling their target from $230 to $515. They cited various factors contributing to the positive outlook for Tesla, including the expected easing of autonomous driving regulations and proposed policies by President Trump, such as ending the tax credit for electric vehicles.
Mizuho's analysis values Tesla at $1.8 trillion, with the core autos and energy business, autonomous driving efforts, and humanoid robots all contributing to the company's potential growth. The analysts estimate that Tesla could sell 7.2 million humanoid robots by 2040, generating significant revenue.
Wedbush analyst Dan Ives also raised his price target for Tesla, highlighting the company's potential in the autonomous and AI space. Ives believes that Tesla's exposure to AI could lead to significant growth in the coming years.
Overall, analysts are optimistic about Tesla's future, with expectations of continued growth driven by advancements in autonomous driving technology and AI. The recent rally in Tesla's stock price reflects this positive sentiment on Wall Street.