Tesla (NASDAQ: TSLA) Q2 delivery numbers came in better than expected at 444,000 delivered units, as they surpassed analysts’ expectations of 439,000, which in return made TSLA stock surge by 10.20% and prompted a new price target from Wedbush analyst Dan Ives.
Ives took to X to announce a revised price target of $300 and a bull case of $400, representing an upside of 70% from the current price levels of $231.26.
He said, “We believe the Tesla demand story has made a significant turn for the positive heading into 2H/2025. Tesla AI story could be worth $1 trillion+ and is the most undervalued AI name in our view.”
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Despite a year-on-year decline in second-quarter deliveries, Tesla’s performance has improved from the first quarter. This was seen as a positive sign by Ives, who had previously suggested that the worst may be behind Tesla after the second-quarter deliveries beat estimates.
There could be no limit for TSLA stock now
Recent developments at Tesla have attracted significant attention from analysts and investors. The company’s stock rallied following the second-quarter deliveries report, with some speculating that Tesla may have achieved “escape velocity.”
This term describes a situation where a stock price breaks through a resistance level, leading to a significant upward trend.
Musk issues a threat to TSLA stock short-sellers
Despite being a popular stock to short, Tesla’s strong performance prompted CEO Elon Musk to warn that short sellers will be “obliterated” while naming Bill Gates.
If the stock continues with its recent strong performance, Ives’s price target might soon be overcomed by TSLA, with a bull case well in play.
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