Hitch a ride with Trump! Tesla rose more than 6% to a new high, and analysts sharply raised their target price.

Tesla rose 6.14% to $463.02 on Monday, another record high, with a total market value of $1.49 trillion.

Since the beginning of this year, Tesla’s share price has risen by more than 86%, almost all of which came after Trump won the election at the beginning of last month.

As Tesla’s share price soared, Musk’s worth soared by $19.2 billion overnight. According to the Bloomberg Billionaires Index, as of Monday’s close,Musk’s net worth reached $474 billion, soaring by $245 billion year-to-date.

A few days ago, Dan Ives, an analyst at Wade Bush Securities, raised Tesla’s target price from $400 to $515, making it the highest target price on Wall Street. He also gave a target price of $650 under "optimistic scenario", which would make Tesla’s market value reach about $2.1 trillion.

According to foreign media,The Trump transition team plans to cancel the consumer tax credit for electric vehicles, impose import duties on all battery materials in the world, and withdraw Biden’s support for electric vehicles and charging infrastructure.

Musk said that the impact of canceling subsidies on competitors will be greater than that on Tesla, because he believes that Tesla has dominated the market. In addition, Tesla has recently raised the price of some models.

Mizuho: Tesla will take a ride with Trump in the next four years.

Mizuho Bank said in a recent report that Tesla’s crazy rise is unlikely to cool down soon, because deregulation will promote the autonomous driving business of the electric car manufacturer, and the close relationship between CEO Musk and President-elect Donald Trump will pave the way for further growth in the next four years.

Mizuho analysts said in the report that "the relaxation of the regulatory framework for autonomous driving (AD) provides more room for the valuation of FSD/Robotaxi", which indicates that Tesla’s expansion environment in the field of autonomous driving technology is favorable.

Mizuho upgraded Tesla’s rating to outperform the broader market and raised its target price from $230 to $515.And pointed out that Tesla will face several special favorable factors in the next four years.

Analysts said that Tesla’s fully automatic driving (FSD) technology may obtain level 4 regulatory approval by 2025. They added that this will greatly increase its income potential, and it will generate about $62 billion in income by 2030, a substantial increase from the current less than $1 billion.

Musk strongly supported Trump during the campaign and is expected to exert influence in the White House, which will benefit Tesla.

Analysts said,The Trump administration’s new policies, including the possible cancellation of the consumer electric vehicle tax credit, put Tesla in a favorable position relative to its peers because of the low cost structure of electric vehicles.

They added that with a more profitable roadmap for electric vehicles, Tesla is expected to surpass the global light vehicle production, especially the low-cost Model Q and Cyber cab, which are expected to be launched in 2026-2027.

Wall Street has raised its target price.

At present, Wall Street is increasingly optimistic about Tesla’s prospects.

In the past few days, institutions including Goldman Sachs, Deutsche Bank, Bank of America, Morgan Stanley, etc. have all raised Tesla’s target price on the grounds that Musk has a close relationship with the Trump administration and Tesla’s leading position in the field of driverless driving.

Among them,Morgan StanleyIn the latest report, it reiterated Tesla’s "first choice" rating and raised its target price from $310 to $400;Goldman SachsIt is pointed out that the market is concerned about Tesla’s future potential, especially its opportunities in artificial intelligence, especially its fully autonomous driving (FSD) software and unmanned taxi Cybercab.

In addition, analysts at Wade Bush Securities are more optimistic.

On Sunday,Dan Ives, an analyst at Wade Bush Securities, raised Tesla’s target price from $400 to $515, making it the highest target price on Wall Street.He also gave a target price of $650 under the optimistic scenario, which would make Tesla’s market value reach about $2.1 trillion, while the current new target price corresponds to a market value of about $1.7 trillion.