Wedbush Raises Tesla Price Target to $350

Wedbush analyst Daniel Ives raised the price target on Tesla (NASDAQ: TSLA) to $350 (from $315) while maintaining an Outperform rating.

“Last night was a pivotal conference call for Musk to turn the corner from this dark chapter as 1Q numbers ended a disaster quarter in which deliveries were very soft and Tesla missed the Street on basically every metric.

More important than numbers, this was the time Musk could pivot, speak to shareholders/employees, and take a turn away from the DOGE/Trump White House and recommit as CEO of Tesla…and he did it loudly and clearly in a conference call that we view as a turning point in the Tesla story. s we discussed a few weeks there are still headwinds, tariffs, and clear growth challenges for Tesla over the coming year….but Musk recommitting as CEO as Tesla and basically leaving his DOGE role over the next month is the biggest and best possible news Tesla investors could have heard last night.

Some of the brand damage will slowly go away…but importantly Tesla got back its biggest asset….Musk.

We are raising our price target from $315 to $350 to reflect this Musk pivot and removing some of the black cloud overhang on the stock over the past few months.

As the autonomous and robotics future takes hold we see significant upside to shares as the Tesla disruptive technology narrative takes hold with Musk now back in the driver’s seat and a lot of wood to chop ahead.

We maintain our OUTPERFORM rating.”

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