Tesla (TSLA) shares traded at a new all-time high on Monday after Wedbush raised its price target again, saying the electric vehicle (EV) maker’s self-driving car and artificial intelligence (AI) efforts would be under pressure from the new Trump government would receive a boost.

Wedbush raised its price target to $515 from $400 and assumed a bull-case scenario of $650 next year. The move came about a month after Wedbush initially raised its price target from $300 to $400 for similar reasons.

Wedbush says the Trump administration will be a “total game changer” for Tesla

The analysts wrote in a note to clients that “the Trump White House will be a ‘total game changer’ for the autonomy and AI story for Tesla in the next four years and (CEO Elon) Musk in the coming years.” .”

They estimate that the full capability of autonomous driving (FSD) and AI alone is worth at least $1 trillion, and they “fully expect” the Trump administration to implement these initiatives “like the federal one Regulatory spider web that Musk & Co. have “will accelerate the changes that have occurred in recent years around FSD/autonomous releases are marked by a new Trump era.”

The analysts argued that Tesla could have a market cap of $2 trillion by the end of 2025 as the vision of autonomous driving takes shape and due to an expected surge in electric vehicle deliveries in China.

Wedbush maintained an “Outperform” rating on the stock.

Shares of Tesla recently rose 1% to $440.67 after hitting a record $447.41 shortly after the market opened. They have increased more than three quarters of their value this year.