Tesla Stock Rallies Following Trump’s Election, Analysts See Major Upside

As President-elect Donald Trump, who is close to CEO Elon Musk, starts to assemble his presidential cabinet, Tesla‘s stock closed up about 9% on Monday, continuing its post-election surge. Wedbush analysts joined prior optimistic outlooks responding to Tuesday’s news by restating their outperform rating on the company. Following a roughly 30% increase last week, Tesla recently regained its $1 trillion market capitalization.

We are raising our price target on Tesla to $400 from $300 as we believe the Trump White House win will be a gamechanger for the autonomous and AI story for Tesla and Musk over the coming years,

the Wedbush analysts

Elon Musk’s Wealth Soars Past $300 Billion After Trump Election Win

In the days following Trump‘s resounding victory, Musk’s fortune surged over $300 billion, solidifying his position as the world’s richest man and contributing to the surge in the technology and cryptocurrency industries since postelection trading started. Musk contributed at least $130 million to Trump’s campaign, but it’s unclear if he will be given a formal title in the second Trump White House or if he will have any influence over his inner circle’s policy choices.

In either case, Musk might receive billions of dollars from new government contracts with his businesses, in addition to the $19 billion that SpaceX has already received. In fact, the 19 federal lawsuits and investigations that are now known to be active against his firms may start to come to an end.

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