Dan Ives Reiterates Bullish TSLA A.I. Story with Street-High Price Target

Core Viewpoint - Tesla's stock has seen significant growth, with a price target increase to $600 from Wedbush, reflecting strong confidence in its AI and autonomous driving strategies [1][3][5] Company Performance - Tesla's stock has risen over 65% in the past year and nearly doubled from its 52-week low last October [1][5] - The stock has rallied nearly 30% in September alone, with 10 price target increases noted during the month [5][6] Market Expectations - Analysts expect Tesla to deliver around 500,000 units in Q3, driven by demand before the $7,500 EV tax credit expiration [6][7] - The average consensus for Q3 deliveries is set at 448,000 units [7] Growth Projections - Dan Ives estimates a 40% upside for Tesla, primarily due to the anticipated rollout of robo taxis in over 30 cities within the next year [3][4] - The autonomous vehicle market opportunity for Tesla is projected to be worth at least $1 trillion, with expectations of owning around 70% of the global market in the next decade [4][5] Financial Impact - Increased penetration of Tesla's full self-driving software could exceed 50%, potentially transforming the company's financial model and margins [5]