Wedbush has sharply raised its price target on Tesla Inc (NASDAQ:TSLA) from $350 to $500, citing what it describes as the beginning of a “golden age of autonomous growth” for the electric vehicle maker. The bank sees the forthcoming launch of full self-driving capabilities in Austin as the catalyst for a significant revaluation of Tesla's business model and long-term prospects.
Tesla Inc (NASDAQ:TSLA) is poised to enter a “golden age of autonomous growth,” according to Wedbush's Dan Ives, who raised his price target on the electric vehicle maker by more than 40% to $500, citing the upcoming rollout of key AI and full self-driving (FSD) initiatives. In a note, Ives called Tesla “the most undervalued AI play in the market today” and said the launch of new autonomous capabilities in Austin, Texas, set for June, will mark the start of a “massive stage of valuation creation” for the Elon Musk-led company.
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Shares of Tesla Inc. (NASDAQ: TSLA) slipped 2.7% on Wednesday, extending its retreat in the past week as concerns grow about Tesla sales particularly in China and Europe.
Alphabet's self-driving unit Waymo may not be as loud as Tesla in the autonomous vehicle race, but co-CEO Tekedra Mawakana says that Waymo is the only company that's operating fully driverless rides at scale - most recently notching 10 million autonomous rides. CNBC's Deirdre Bosa sits down with her in an exclusive interview at the Google I/O developer conference on Tuesday.
Elon Musk dismissed concerns about Tesla Inc's (NASDAQ:TSLA) recent sales dip and his own leadership during a combative appearance at the Qatar Economic Forum. Responding to questions over weaker European figures, Musk claimed demand was strong globally, calling Europe the company’s “weakest market” but insisting performance elsewhere had already rebounded. He pointed to Tesla’s share price as the best indicator of business health, saying, “The stock wouldn’t be trading near all-time highs if things weren’t in good shape.” Musk also confirmed Tesla would begin testing a limited fleet of self-driving taxis in Austin by late June, with safety operators on board initially. If successful, the pilot could expand quickly. Questions over Musk’s pay resurfaced following reports Tesla’s board is considering alternative compensation plans. A 2018 pay award, worth up to $100bn, remains under legal appeal. Musk maintained his demands were about control, not money, and reiterated his intention to remain chief executive.
X (formerly Twitter)X (formerly Twitter) QatarEconForum (@QatarEconForum) on X "Burning down cars is unacceptable. Those people are going to prison, and the people who funded and organized them will also go to prison.
Elon Musk says Tesla's stock wouldn't be trading near all time highs if things weren't in good shape