Tesla's stock price hit an all-time high, fueling optimism that the company will finally deliver on its promise to convert existing electric vehicles into self-driving taxis. Dan Ives, a well-known Tesla bull on Wall Street and Wedbush analyst, called 2026 Tesla's "monster year," maintaining a buy rating on TSLA with a target price of $600.
Buying a Tesla is like riding a roller coaster; the TSLA finally hit a new all-time high at the end of the year.
This year has been a rollercoaster ride for Tesla investors, with Tesla's stock price plummeting 36% in the first quarter, its worst performance since 2022. However, after Musk left the Department of Government Efficiency (DOGE) to focus on his business, TSLA has rebounded, closing at a record high of $489.88 on Tuesday, up 25.58% year-to-date.
In June of this year, Tesla launched a limited Robotaxi service with a safety driver in Austin, Texas. CEO Elon Musk recently stated on the social media platform X that the testing has now entered the "driverless" phase. Bullish investors believe this news indicates that the company will finally deliver on its long-standing promise to turn its existing electric vehicles into driverless taxis through software updates.
Dan Ives remains optimistic, raising his target price for TSLA to $600.
Mizuho Securities raised its price target for Tesla this week from $475 to $530 and maintained its "buy" rating on the stock. Analysts said improvements to Tesla's FSD technology could help accelerate the expansion of its driverless taxi fleet in Austin and San Francisco.
Dan Ives, a well-known Tesla bull and analyst at Wedbush, calls 2026 Tesla's "monster year." He believes Tesla is a leader in the "physical AI revolution," with autonomous driving and robotics poised to change everything. He also predicts Elon Musk will enter "wartime CEO" mode, focusing on Tesla and driving the early stages of the AI revolution. Ives maintains his buy rating on Tesla with a target price of $600.
According to the "Musk 10-Year Compensation Plan" passed in November, Musk's first-phase goal is to achieve a market capitalization of $2 trillion, which translates to a stock price of approximately $612.
Ives also mentioned SpaceX's IPO, believing that a 2026 listing would be the right time, not diverting Tesla investors but rather expanding Musk's ecosystem (Tesla + SpaceX + xAI), which would be positive for Tesla investors. Tesla may hold some SpaceX/xAI shares.
This article, "Tesla (TSLA) hits a new high, Dan Ives raises target price to $600," first appeared on ABMedia .
