Tesla stock (TSLA) rose on Tuesday, hitting another record and adding to huge year-end gains, as another Wall Street analyst says there’s more room to run.

Tesla shares rose 3.6% to close at over $479 per share. The stock is up nearly 20% in the past five days, driven by positive news about Tesla’s — and CEO Elon Musk’s — connection to President-elect Donald Trump.

Tesla stock is up over 85% since Election Day.

The latest analyst to comment is Vijay Rakesh of Mizuho Securities, who upgraded Tesla to Outperform from Neutral and more than doubled his price target to $515 from $230.

Citing “idiosyncratic tailwinds,” Rakesh, like other analysts, believes in the new Trump administration’s loosening of self-driving rules, the removal of consumer electric vehicle tax credits – which Rakesh believes will ultimately benefit Tesla over others – and to a more profitable, cost-effective electric vehicle. Its competitors give Tesla scope for 2025 and beyond.

“We expect TSLA’s leadership in electric vehicles, solar/battery storage and charging infrastructure will allow the company to weather the storm better than less established competitors as the Trump administration eliminates subsidies for key end markets,” wrote Rakesh to his customers. “We also see less stringent regulation for autonomous vehicles (“AVs”) as an important tailwind for TSLA’s ability to scale FSD/robo-taxi deployments, with our base case implying significant long-term revenue from AV operations.”

Raising Mizuho’s price target to $515 shows the bank is catching up after missing the rally, but the company’s new target implies about 10% more upside is possible. Mizuho and Rakesh see a “bull case” of $681 per share if Tesla can accelerate its deployment of Full Self-Driving (FSD) and Robotaxi and make breakthroughs with its Optimus robot and AI development.

On Monday, Wedbush analyst Dan Ives also started Tesla’s good week with an improvement in the price target.

“We estimate that the AI ​​and autonomous capabilities are worth at least $1 trillion to Tesla alone, and we expect these important initiatives to now accelerate under the Trump White House,” Ives wrote on March 16 . December in a note to clients, increasing its price target to $515 to $400.

Reuters reported on Friday that Team Trump recommended that the new administration repeal a National Highway Traffic Safety Administration (NHTSA) order requiring automakers to report accidents involving self-driving or autonomous driving systems. Such a move would obviously be a good thing for Tesla. According to Reuters, the company had to report more than 1,500 accidents related to its FSD and Autopilot software to NHTSA.

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