'Pop The Champagne Moment' For Tesla? Analyst Says Shareholders Spoke Out Loud For Elon Musk: Here's What To Expect At Thursday's Annual Meeting
Portfolio Pulse from Shanthi Rexaline
Wedbush analyst Daniel Ives has maintained an Outperform rating and a $275 price target for Tesla (NASDAQ:TSLA), following shareholder approval of Elon Musk's compensation package and the company's incorporation in Texas. This approval is seen as removing a $20-$30 overhang on the stock. Ives expects Musk to address AI initiatives, sub-$30K electric vehicles, and the upcoming robotaxi event at the shareholder meeting. Tesla shares climbed 6.38% to $188.60 in premarket trading.
June 13, 2024 | 12:48 pm
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Wedbush analyst Daniel Ives has maintained an Outperform rating and a $275 price target for Tesla, following shareholder approval of Elon Musk's compensation package and the company's incorporation in Texas. This approval is seen as removing a $20-$30 overhang on the stock.
The approval of Musk's compensation package and the company's incorporation in Texas are seen as removing a significant overhang on the stock, which is likely to positively impact Tesla's share price in the short term. The analyst's Outperform rating and $275 price target further support a bullish outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100