Tesla jumps to another new high as Mizuho more than doubles price target to $515

Tesla stock (TSLA) rose Tuesday morning, hitting another new high and adding to huge year-end gains as another Wall Street analyst says there’s more room to run.

Tesla shares rose over 2% in early trading, surpassing $470 per share for the first time. The stock is up nearly 19% in the past five days, reflecting positive news reports about Tesla’s — and CEO Elon Musk’s — connection to President-elect Donald Trump.

Tesla shares are up a whopping 90.8% since Election Day.

The latest analyst to comment is Mizuho Securites’ Vijay Rakesh, who upgraded Tesla to Outperform from Neutral and more than doubled his price target to $515 from $230.

Citing “idiosyncratic tailwinds,” Rakesh, like other analysts, believes in the new Trump administration’s loosening of autonomous driving rules, the repeal of consumer electric vehicle tax credits (which Rakesh believes will ultimately favor Tesla over others), and a more profitable, cost-effective electric vehicle compared to Tesla peers, gives Tesla scope for deployment in 2025 and beyond.

“We expect TSLA’s leadership in electric vehicles, solar/battery storage and charging infrastructure will allow the company to weather the storm better than less established competitors as the Trump administration eliminates subsidies for key end markets,” wrote Rakesh to customers. “We also see less stringent regulation for autonomous vehicles (“AVs”) as an important tailwind for TSLA’s ability to scale FSD/robo-taxi deployments, with our base case implying significant long-term revenue from AV operations.”

Raising Mizuho’s price target to $515 shows the bank is catching up after missing the rally, but the company’s new target implies about 10% more upside is possible. Mizuho and Rakesh see a “bull case” of $681 per share if Tesla can accelerate its FSD and robotaxi implementations and make breakthroughs with its Optimus robot and AI development.

On Monday, Wedbush analyst Dan Ives also started Tesla’s good week with an improvement in the price target.

“We estimate that the AI ​​and autonomous capabilities are worth at least $1 trillion to Tesla alone, and we expect these important initiatives to now accelerate under the Trump White House,” Ives wrote on March 16 . December in a note to clients, increasing its price target to $515 to $400.

Reuters reported on Friday that Team Trump recommended that the new administration repeal a National Highway Traffic Safety Administration (NHTSA) order requiring automakers to report accidents involving self-driving or autonomous driving systems. Such a move would obviously be a good thing for Tesla. According to Reuters, the company had to report more than 1,500 accidents related to its FSD (Full Self-Driving) and Autopilot software to NHTSA.

The story continues