Time: 2024-07-17
Following Tesla , Inc. 's above - consensus second - quarter deliveries number , bullish analysts suggest a turnaround may have begun at the electric vehicle maker . Wedbush analyst Daniel Ives weighed in on how a potential second term for former President Donald Trump would influence the fortunes of the Elon Musk - led company.
With the price cuts in the rearview mirror and demand stabilizing globally for EVs , Tesla is on track to achieve a 2 million annual trajectory over the coming quarters , said Ives in a note . Tesla has reported two straight quarters of sales decline for now , but comparisons are expected to get easier in 2025.
Analyst Daniel Ives predicts a historical Robotaxi Day ahead for Musk and Tesla on August 8th that will lay the yellow brick road to FSD and an autonomous future . Ives estimates that the AI story alone could be worth trillion to the broader Tesla story over the coming years . The key to Tesla reclaiming its trillion valuation is the autonomous and FSD vision taking hold , with FSD v12.4 and China FSD testing underway.
Following the first presidential debate on June 27 , the odds of a Trump victory have increased . Analyst Daniel Ives believes a Trump presidency would be an overall negative for the EV industry as EV rebates / tax incentives may get pulled . However , for Tesla , this could be a potential positive as the company is relatively better positioned with unmatched scale and scope in the EV industry . Additionally , higher China tariffs could push away cheaper Chinese EV players from flooding the US market , benefitting Tesla.
Ives maintained an Outperform rating and a 00 price target for Tesla stock , suggesting a roughly 14 % upside potential over the year . In premarket trading on Thursday , Tesla edged down 0.05 % to 63.13 . The Street recognizes Tesla as the most undervalued AI play in the market , and the EV maker 's shares have been on an 11 - session winning streak , gaining over 44 % since June 25 . Analysts believe Tesla is well - positioned for future growth and success in the electric vehicle industry.
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