A trading analyst has reiterated a bullish stance on Tesla (NASDAQ: TSLA), maintaining a $600 price target despite the recent public spat between CEO Elon Musk and President Donald Trump.
The feud began after Musk criticized a new tax bill that seeks to eliminate electric vehicle (EV) subsidies, triggering a sharp market reaction.
On June 5, Tesla shed $150 billion from its market cap. However, by the close of the next trading session on June 6, TSLA had rebounded slightly, gaining over 3% to end the day at $295.
TSLA’s path to $600
Now, according to prominent online analyst TradingShot, the recent dip is merely a short-term pullback within a broader bullish trend.
In a June 6 TradingView post, the analyst pointed out that Tesla remains within a long-term channel-up pattern, which began after the stock bottomed in January 2023. The most recent major low on April 7, 2025, formed a triple bottom at the 0.236 Fibonacci retracement level, a historically strong support zone.
Each prior bullish wave in this channel has followed a similar progression, entailing a rally, a consolidation phase resembling a bull flag, and a continuation upward. TradingShot views the current downturn as the early stage of another bull flag, potentially setting up the next breakout.
The weekly relative strength index (RSI) shows signs of accumulation, similar to those before Tesla’s last two major rallies, further supporting the bullish outlook.
The analysis suggested a $600 price target aligned with the upper boundary of the channel and the 1.0 Fibonacci extension. If the bullish trend continues, this level could be reached by early November 2025.
Musk’s next Tesla focus
Meanwhile, Gary Black, Managing Partner at The Future Fund, shared in a June 6 X post that he expects the Musk–Trump dispute to fade soon.
He emphasized that attention is now shifting to Tesla’s highly anticipated robotaxi unveiling, scheduled for June 12 in Austin. According to Black, the success of this event is pivotal for Tesla’s broader push to gain approval for unsupervised autonomous driving.
Elsewhere, Wall Street remains bullish on Tesla’s stock prospects. As reported by Finbold, Morgan Stanley reaffirmed its long-term target of $1,000 for Tesla.
Analyst Adam Jonas believes the Texas-based company could reach that valuation if it successfully expands into drones and the urban air mobility market.
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