Wedbush raises Tesla price target to $400 following Trump's election win

Wedbush analyst Dan Ives has raised Tesla's price target from $300 to $400, citing potential benefits from Donald Trump's recent presidential win. Ives believes this victory could significantly impact Tesla's autonomous and AI developments. Ives estimates the AI and autonomous market could be worth $1 trillion for Tesla. He noted that while EV subsidies may decrease, Tesla could gain a competitive edge over other domestic EV manufacturers. Tesla shares rose 8.2% to $321.22 on Friday, reflecting a 47% increase over the past month. The stock has gained over 30% since Trump's election victory.