Tesla Shares Rise on Robotaxi Plans, Analyst $500 Target

Tesla's stock has shown resilience despite significant challenges, including halving sales in Europe and a decline in China, compounded by regulatory and production issues. Analyst Dan Ives remains optimistic, highlighting CEO Elon Musk's renewed focus on Tesla after stepping back from his government role, which is expected to accelerate the company's autonomous driving initiatives. The upcoming launch of Tesla's robotaxi service in Austin this June is viewed as a critical growth driver, potentially positioning Tesla as a dominant player in the autonomous ride-sharing market. Musk has made ambitious forecasts, predicting Tesla could surpass the combined market value of the world's five largest companies, driven by autonomous vehicle and robotics developments. While Tesla faces ongoing obstacles, the market is responding positively to these strategic shifts, with Ives raising his price target to $500 per share, suggesting significant upside potential. Investors are increasingly betting on Tesla as a leading AI and autonomous technology play over the next decade.