Tesla (NASDAQ: TSLA) continues its run higher on Wall Street following another price surge from Wedbush analyst Dan Ives, who raised his stock price target for the second time following President-elect Donald Trump’s election victory.

Trump’s victory and Tesla CEO Elon Musk’s relationship with him were bullish indicators in the immediate aftermath of the election, and Ives saw an opportunity to increase the price target to $400.

However, the company’s share price continued to rise well above $400, prompting Ives to raise the price target again, which now stands at $515.

Ives believes that Trump’s takeover of the country by the White House will be extremely optimistic for Tesla over the next four years, especially given the company’s autonomy and AI prerogatives.

Wedbush said in a note to investors on Sunday:

“We are increasing our price target on Tesla from $400 to $515 as we believe the Trump White House is a ‘total game changer’ for Tesla in the next four years and Musk in the coming years – and will represent AI history.”

$515 is not the only price target set by Wedbush. Ives said the company will also have a bull-case price target of $650 for 2025, primarily due to the company’s opportunities in AI as well as growth in regions such as China:

“We estimate that the AI ​​and autonomous capabilities are worth at least $1 trillion to Tesla alone, and we fully expect these important initiatives to be accelerated under a Trump White House now that “The spider web of federal regulation that Musk & Co. encountered in the past is now being implemented quickly.” The few years surrounding FSD/Autonome clearly indicate a new Trump era. We believe Tesla could reach a $2 trillion market cap by the end of 2025 as the company’s autonomous vision takes shape and there is very solid Tesla delivery demand that we expect from the core market of China.”

Tesla China is still attracting a lot of customers in recent weeks as the fourth quarter begins

Ives acknowledges that Musk’s commitment to helping Trump get elected to his second term was “a bet for the ages” and could help Tesla push AI and FSD through regulatory processes more efficiently.

Wedbush maintained its “outperform” rating on stocks. Tesla is trading up about 4.2 percent at $454.68 on the East Coast as of 11:40 a.m.

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Tesla’s soaring continues after the bull price pushes the price target higher again, representing a new bull scenario