Shares of Tesla are set to soar under a second Trump presidency, according to widely followed analyst Dan Ives of Wedbush.
Ives reiterated his outperform rating and hiked his 12-month price target for the electric vehicle manufacturer to $400 from $300. This new forecast signals about 25% upside from Friday's close. Ives cited Donald Trump's victory for a second presidential term as a catalyst for the price target change. CEO Elon Musk has been a strong advocate for the president-elect.
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