Analyst upgrades Tesla stock price target

Core Viewpoint - Dan Ives, a Wedbush analyst, has revised Tesla's price target from $315 to $350 following a quarterly report that, despite being grim, led to a positive investor reaction, resulting in an approximate 11% increase in stock price since April 21 [1][5]. Group 1: Price Target Revision - The price target for Tesla was raised from $315 to $350, marking the second revision in less than a month [1][6]. - This latest upgrade still represents a 30% downward revision compared to the pre-April forecast [5][6]. Group 2: CEO's Focus and Investor Sentiment - Elon Musk has pledged to significantly reduce his involvement in political activities, which has eased investor concerns [4][6]. - There is an indication that Tesla will regain Musk's undivided attention, which is expected to positively impact the company's performance [3][4]. Group 3: Stock Performance - Despite the recent rally, Tesla's stock remains down 38.5% year-to-date (YTD) and 47.25% below its mid-December highs near $480 [6][7]. - The stock has shown a 5.37% increase in daily performance and a 12.14% increase in weekly performance [5].