Wedbush Securities analyst Daniel Ives sees a brighter future for the automaker now that Elon Musk plans to cut back his time with the DOGE group. After the corporate’s newest earnings name, the long-time TSLA bull raised Tesla’s value goal from $315 to $350 with a BUY score.
“Final evening was a pivotal convention name for Musk to show the nook from this darkish chapter as 1Q numbers [ending] a catastrophe quarter during which deliveries had been very gentle and Tesla missed the Road on mainly each metric.
“Extra vital than numbers, this was the time [Elon] Musk might pivot, communicate to shareholders/workers, and take a flip away from the DOGE/Trump White Home and recommit as CEO of Tesla…and he did it loudly and clearly in a convention name that we view as a turning level within the Tesla story,” Ives stated after Tesla’s earnings name.
Earlier than Tesla’s Q1 2025 earnings name, the Wedbush analyst stated the corporate was at a crossroads. He listed six elements that is perhaps affecting Tesla, which he believed the corporate ought to handle. Primary on Ives’ record was Tesla’s ascension to a world political image related to the Trump Administration and DOGE.
It have to be famous that these are Ives’ opinions and don’t apply to all the public. Some teams separate Elon Musk and Tesla from President Trump and his administration.
Through the latest TSLA earnings name, Elon Musk made the separation extra obvious partly by asserting that he would considerably scale back his time with DOGE.
“And I feel beginning most likely subsequent month, Might, my time allocation to Doge will drop considerably…However beginning subsequent month, I’ll be allocating much more of my time to Tesla and now that the main work of building the Division of Authorities Effectivity is finished,” Musk stated.
Musk additionally shared his stance on Trump’s auto tariffs, differentiating himself farther from the U.S. President and the present administration.
“And I undoubtedly, I’m gonna get numerous questions on tariffs. And I simply wanna emphasize that the tariff choice is totally as much as the President of the US. I’ll weigh in with my recommendation with the President, which he’ll hearken to my recommendation. However then it’s as much as him, after all, to make his choice.
“I’ve been on the document many instances saying that I consider decrease tariffs are typically a good suggestion for prosperity, however this choice is basically as much as the elected consultant of the individuals being the President of the US. So, you realize, I’ll proceed to advocate for decrease tariffs moderately than increased tariffs, however that’s all I can do,” Musk stated.
