Meta AI Model Exploits Security Flaw During Cybersecurity Test, Raising AI Safety Concerns 
AI Data Center Boom Faces New Risks as Public Backlash and Policy Scrutiny Grow 
Cloudflare Stock Jumps 15% as Earnings Beat Estimates, 2026 Outlook Raised 
Canada, US Hold Constructive Trade Talks as Tariff Negotiations Continue 
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge 
OpenAI Restricts Astra AI Over Cyberattack Risks 
US Job Growth Seen Picking Up in July 
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise 
Apple Stock Slides 7% as Weak Sales Forecast Overshadows Quarterly Earnings Beat 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
BOJ Rate Hike Expectations Rise Ahead of September Meeting 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says 
US Stock Futures Hold Steady as Iran Hormuz Deal and Earnings Shape Market Sentiment 
Wall Street Ends Mixed as Dow Hits Record Despite Tech Weakness 
Nintendo Shares Jump as Switch 2 Sales Boost Earnings 
Tesla's stock received a major boost as Roth MKM's Craig Irwin upgraded his rating from Neutral to Buy, raising the price target to $380. Irwin, a longtime Tesla skeptic, now sees Trump-backed policies and a growing conservative customer base as catalysts for the automaker's success.
Tesla Skeptic Turns Bullish With Major Upgrade
A long-time Tesla stock skeptic has become a much more bullish voice and price target holder, meaning the company has lost one of its biggest bears this morning, Teslarati shares.
Roth MKM's Craig Irwin raised the firm's price objective for Tesla stock from $85 to $380 and upgraded the stock from Neutral to Buy.
For quite some time, Irwin has been skeptical of Tesla. Irwin claimed that Tesla was "egregiously" overpriced in December 2023. He maintained his Hold rating on shares in October after earlier this year declaring the end of the price war at the company.
Elon Musk and Trump’s Regulatory Advantage
Irwin has a few good reasons to propose that investors purchase shares of the manufacturer, and he has raised his price target to $380.
Firstly, CEO Elon Musk has already been appointed to a position in the Department of Government Efficiency by President-elect Donald Trump, giving Tesla a leg up in the business world.
On the other hand, many industry watchers think that the close relationship between Musk and Trump may speed up regulatory processes, particularly in the area of autonomous driving—which Tesla plans to introduce with its Cybercab in the near future.
EV Tax Credit Elimination as a Tesla Advantage
Many analysts, including Irwin, actually view Trump's elimination of the $7,500 electric vehicle tax credit as an advantage for Tesla. This will have a greater influence on legacy manufacturers than anybody else, according to Wedbush analyst Dan Ives, and will help Tesla stave off competition from other automakers.
In a message to investors this morning, Irwin mentioned that conservative voters could provide a significant boost to Tesla, particularly after the election:
“Enthusiasm for Tesla among conservative voters, comprising a mostly fresh buying pool, should also lift the demand trajectory.”
New Demographics Could Boost Tesla Deliveries
The addition of a new demographic to Tesla's roster of prospective customers, according to Irwin, lends credence to the company's projection of a 20-30% bump in 2025 deliveries.
While Republicans are more likely to be opposed to electric vehicles than Democrats, Musk's relationship with Trump may have influenced some conservatives to back EVs, particularly Tesla models.
The current East Coast market price for a Tesla is $354.46 as of 11:53 a.m.
