Wedbush analyst Dan Ives has raised Tesla's price target from $315 to $350 following Elon Musk's announcement to prioritize his time on Tesla over DOGE. This decision marks a key moment for Tesla, particularly after disappointing Q1 results. Ives characterized the recent earnings call as pivotal for shifting the narrative surrounding Tesla, emphasizing the need for Musk to separate from his associations with DOGE and the Trump administration. The shift indicates a renewed focus on Tesla's leadership and operational strategy, promising a brighter outlook ahead.
Last night was a pivotal conference call for Musk to turn the corner from this dark chapter as 1Q numbers were weak and Tesla missed expectations.
I think starting probably next month, May, my time allocation to Doge will drop significantly... I'll be allocating far more of my time to Tesla.
This was the time Musk could pivot, speak to shareholders/employees, and take a turn away from the DOGE/Trump White House and recommit as CEO of Tesla.
We view this conference call as a turning point in the Tesla story, pivotal for the company's future and Musk's commitment.
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