Tesla (TSLA) is now on the verge of a "golden age of autonomous growth" after CEO and founder Elon Musk stepped back from his role in the US Department of Government Efficiency and recommitted to leading the company, Wedbush said in a Friday note.
The company is set to begin its next era of growth centered on its autonomous vision, kicking off with key launch of its robotaxis in Austin, Texas, this June, Wedbush analysts said.
The analysts said that Tesla's AI and autonomous opportunity is worth around $1 trillion, with the regulatory hurdles having been cleared significantly under the Trump administration. In a bull case scenario, the company could even reach a $2 trillion market capitalization by the end of 2026, they said.
Tesla "remains the most undervalued AI play in the market today," and down the road may be able to license its technology to other auto players globally, the analysts said.
Wedbush maintained the company's stock at outperform and raised the price target to $500 from $350.
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