Tesla(US:TSLA) Investopedia·2024-11-08 19:30Tesla Stock Performance - Tesla shares surged more than 9% on Friday, reaching around $325, breaking the $300 level for the first time since 2022 [2] - The stock gained 30% this week, boosting Tesla's market capitalization above $1 trillion [1][2] Analyst Upgrades and Price Targets - Bank of America raised Tesla's price target to $350 from $265, citing potential lighter EV regulation under a Trump administration [1][3] - Wedbush reiterated its outperform rating and $300 price target, noting Tesla's scale advantage if EV subsidies are scrapped [6] Potential Impact of Trump Administration - Analysts believe a Trump presidency could benefit Tesla through lighter regulation and a national standard for self-driving vehicles [3][4] - Trump's expected plans to ease environmental regulations and impose higher tariffs on China could slow rival automakers' EV ramp-ups [4] - Wedbush sees a Trump presidency as a "huge positive" for Tesla, despite potential negative impacts on the broader EV industry [6] Competitive Landscape - Tesla's EV rivals, such as Rivian and Polestar, face pressure due to investor fears of Trump unwinding EV incentives [7] - Rivian lowered its 2024 vehicle production projection to 47,000-49,000 from 57,000 due to parts shortages [7] Robotaxi and Self-Driving Prospects - Bank of America analysts highlighted the potential growth of Tesla's robotaxi business under lighter regulation [3] - Trump's support for a national standard for self-driving vehicles could facilitate Tesla's planned robotaxi rollout [4]