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 by which deliveries had been very smooth and Tesla missed the Road on mainly each metric.
“Extra necessary than numbers, this was the time [Elon] Musk may pivot, converse 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 may be 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 should be famous that these are Ives’ opinions and don’t apply to the whole public. Some teams separate Elon Musk and Tesla from President Trump and his administration.
Throughout the latest TSLA earnings name, Elon Musk made the separation extra obvious partly by asserting that he would considerably cut back his time with DOGE.
“And I believe beginning in all probability subsequent month, Could, my time allocation to Doge will drop considerably…However beginning subsequent month, I’ll be allocating way more of my time to Tesla and now that the main work of creating 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 loads of questions on tariffs. And I simply wanna emphasize that the tariff resolution is solely as much as the President of america. 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 resolution.
“I’ve been on the file many instances saying that I imagine decrease tariffs are usually a good suggestion for prosperity, however this resolution is basically as much as the elected consultant of the folks being the President of america. So, you already know, I’ll proceed to advocate for decrease tariffs reasonably than larger tariffs, however that’s all I can do,” Musk stated.
