(Updated to include Wedbush commentary)
Wedbush on Friday raised price target on Tesla (TSLA) to $500 from $350, saying the June launch will start the next era of growth for the company and Musk.
The brokerage said it foresees a "massive stage of valuation creation" based on a successful autonomous vision coming from the new Austin launch.
According to analysts Daniel Ives and Sam Brandeis, "We estimate the AI and autonomous opportunity is worth at least $1 trillion alone for Tesla", saying the company "could reach a $2 trillion market cap by the end of 2026 in a bull case scenario."
The brokerage kept its outperform rating on the company's stock.
Tesla has an average rating of overweight and mean price target of $311.62, according to analysts polled by FactSet.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 340.02, Change: -1.02, Percent Change: -0.30
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