- Wedbush’s Dan Ives hiked his Tesla price target to $600, citing robotaxi and AI growth.
- Q3 deliveries may come in near 500,000 units, with analysts mixed on Q4.
- Tesla stock is up 32% in September and trading just below record highs.
Tesla has been on a tear this month, climbing 30% as Wall Street piles on upgrades and price target hikes ahead of next week’s Q3 delivery report. The loudest voice of confidence came Friday from Wedbush’s Dan Ives, a long-time Tesla bull, who boosted his price target to $600—a full 42% higher than Thursday’s close and well above Tesla’s prior all-time high. His call? Tesla’s robotaxi rollout and AI-driven future could unlock $1 trillion in new value.
Robotaxi Rollout Fuels Optimism
Ives sees Tesla aggressively launching its robotaxi fleet in over 30 U.S. cities within the next year, calling it the company’s “AI Revolution” moment. He believes Tesla will capture as much as 70% of the global autonomous vehicle market over the next decade, while adoption of its Full Self-Driving (FSD) system could surge past 50%. Under a Trump White House, Ives argues, regulatory fast-tracking could accelerate Tesla’s plans, reshaping margins and expanding revenue streams well beyond vehicle sales.
Q3 Deliveries Set the Stage
The upcoming Q3 delivery numbers are the next big catalyst. Consensus sits around 448,000 vehicles, but recent estimates are creeping closer to 500,000. Deutsche Bank expects 461,500, Piper Sandler projects 495,000, and prediction markets like Kalshi even peg deliveries above 500,000. While tax credits expiring on Sept. 30 may cause a temporary sales bump, analysts warn that Q4 could show a slowdown. Still, many believe Tesla will surprise to the upside given recent consumer demand.
Wall Street Ramps Up Targets
Ives isn’t alone in his bullish stance. Mizuho raised its target to $450, Deutsche Bank to $435, and Baird to $548, noting Tesla’s growing role as a leader in “physical AI.” UBS forecasts Q3 deliveries of 475,000 but remains cautious about a Q4 dip. Despite differing delivery expectations, nearly every major firm has raised its price outlook this month, signaling broad conviction that Tesla’s AI and robotics push could carry the stock higher.
Tesla Stock Momentum
Shares closed Friday at $440.40, up 32% in September and just 11% below all-time highs. The stock has surged on the back of Elon Musk’s $1 billion insider purchases and growing momentum around AI. For now, analysts advise watching for a potential pullback or handle formation before adding positions—but sentiment clearly favors more upside.
