Wedbush Securities analyst Daniel Ives sees a brighter future for the automaker now that Elon Musk plans to scale back his time with the DOGE staff. After the corporate’s newest earnings name, the long-time TSLA bull raised Tesla’s worth goal from $315 to $350 with a BUY score.
“Final night time was a pivotal convention name for Musk to show the nook from this darkish chapter as 1Q numbers [ending] a catastrophe quarter through which deliveries have been very comfortable and Tesla missed the Avenue on principally each metric.
“Extra necessary than numbers, this was the time [Elon] Musk may 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 components that is likely to be affecting Tesla, which he believed the corporate ought to tackle. Primary on Ives’ record was Tesla’s ascension to a worldwide political image related to the Trump Administration and DOGE.
It have to be famous that these are Ives’ opinions and don’t apply to the complete public. Some teams separate Elon Musk and Tesla from President Trump and his administration.
In the course of the current TSLA earnings name, Elon Musk made the separation extra obvious partly by saying that he would considerably cut back his time with DOGE.
“And I believe beginning most likely subsequent month, Might, 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 foremost 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 a number of questions on tariffs. And I simply wanna emphasize that the tariff choice is totally as much as the President of the USA. 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 file many occasions saying that I consider decrease tariffs are typically a good suggestion for prosperity, however this choice is essentially as much as the elected consultant of the individuals being the President of the USA. So, , I’ll proceed to advocate for decrease tariffs slightly than increased tariffs, however that’s all I can do,” Musk stated.
