Tesla Inc (NASDAQ:TSLA) Stock Surge

Shares of Tesla Inc surged on Monday, nearing a market capitalization of $1.5 trillion. Analysts suggest that a Trump administration may significantly benefit the company and CEO Elon Musk.

The stock climbed as much as 5.6%, continuing its impressive rally since closing on November 5, during which Tesla’s shares increased by 82%, boosting the market value to approximately $1.47 trillion.

Investors view the relationship between Musk and Donald Trump as a potential advantage for 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 noted.

Wedbush raised its price target for Tesla to $515 from $400, with a bullish forecast of $650 by 2025. They estimate that Tesla’s AI and autonomous driving opportunities alone could be worth at least $1 trillion.

Additionally, Truist Securities raised Tesla’s price target to $360 while maintaining a Hold rating. An analyst remarked on the significance of the relationship, suggesting an improved view of Tesla’s ability to generate positive cash flows, which includes a robotaxi service in their projections.

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