Tesla Set for Strong Second Half Rally as Company Revival Begins, Predicts Wedbush Analyst Dan Ives

Money | July 1, 2024, 4:03 p.m.

Wedbush predicts that Tesla stock is poised for significant growth in the second half of 2024, as the electric car maker sees a turnaround in weak demand from China. Analyst Dan Ives remains optimistic about the company's future, citing easing headwinds and the upcoming Robotaxi event in August as potential catalysts for a stock rally. Despite a challenging start to the year, with Tesla's stock down 18%, Ives believes that the worst is behind the company. Tesla's second-quarter deliveries may be disappointing, but Ives sees this as the last of the bad news. With a possible re-election of Trump as a positive factor, Wedbush maintains an "outperform" rating on Tesla stock with a $275 price target, suggesting a 33% upside. While some analysts remain cautious, Ives is confident that Tesla is on track for a major comeback in the months ahead.