Tesla stock rises, approaches $1.5 trillion in value by Investing.com

Investing.com — Shares of Tesla Inc (NASDAQ: ) rose on Monday, pushing the electric carmaker’s market cap closer to $1.5 trillion, as analysts suggested a Trump White House could be a game changer for the company and its CEO Elon Musk .

The stock rose as much as 5.6%, continuing its impressive rally since the Nov. 5 close. Since that date, Tesla’s shares have risen 82%, boosting the company’s market capitalization to approximately $1.47 trillion.

Investors see the relationship between Musk and President Donald Trump as a potential advantage, particularly in advancing Tesla’s autonomous vehicle initiatives.

“We believe a Trump White House over the next four years will be a ‘total game changer’ for Tesla’s autonomous and AI developments,” a Wedbush analyst wrote in a note Monday.

The firm raised its price target for Tesla to $515 from $400 and set a bullish case target of $650 by 2025. Wedbush also estimates that Tesla’s AI and autonomous driving capabilities alone could be worth at least $1 trillion.

Separately, Truist Securities also raised Tesla’s price target to $360, maintaining a Hold rating.

“Given the importance of this relationship, we take a more open-minded view of Tesla’s ability to generate positive cash flows across its various businesses, including the addition of a robotaxi service to our projections,” noted a Truist Securities- analyst.

Last week, CEO Elon Musk’s net worth surpassed $400 billion, according to Forbes’ real-time billionaires list.