Tesla anticipates a strong second half rally as Wedbush analyst Dan Ives highlights company's resurgent comeback

Money | July 1, 2024, 10:43 p.m.

Tesla stock is expected to see significant gains in the second half of 2024, according to Wedbush analyst Dan Ives. Despite a challenging start to the year, Tesla is predicted to rebound as demand stabilizes in China and the company prepares to unveil its Robotaxi model in August. Ives remains optimistic about Tesla's growth potential, noting that recent struggles may be turning a corner. While second-quarter deliveries may be lackluster, the announcement of the Robotaxi could be a game-changer for Tesla's stock. Analysts are split on the future of Tesla, with some warning of potential downside, while Wedbush maintains an "outperform" rating and a $275 price target. Overall, Tesla's outlook appears positive for the remainder of the year, with potential for significant gains ahead.