Elon Musk’s Reduced Involvement with DOGE Signals Brighter Future for Tesla: Analyst
Wedbush Securities analyst Daniel Ives has expressed optimism about Tesla’s future following Elon Musk’s announcement to reduce his time with the DOGE team. In the wake of the company’s latest earnings call, Ives, a long-time TSLA bull, raised Tesla’s price target from $315 to $350 and issued a BUY rating.
According to Ives, the recent earnings call was a pivotal moment for Musk to steer Tesla away from a “dark chapter.” The first quarter of 2025 was described as a “disaster quarter” with soft deliveries and missed metrics. However, Ives believes that Musk’s clear commitment to Tesla during the conference call marks a turning point in the company’s story.
Prior to the Q1 2025 earnings call, Ives had highlighted six factors that could be impacting Tesla, including the company’s association with the Trump Administration and DOGE, which he believed Tesla needed to address.
During the earnings call, Musk emphasized his intention to reduce his involvement with DOGE, stating that he would allocate more of his time to Tesla starting in May. This move indicates a shift away from external distractions and a renewed focus on the company’s core operations.
Furthermore, Musk clarified his stance on Trump’s auto tariffs, underscoring his advocacy for lower tariffs for economic prosperity. While he acknowledged that the tariff decision ultimately rests with the President, Musk expressed his willingness to provide advice on the matter.
Overall, Ives’ positive outlook on Tesla’s future is bolstered by Musk’s recommitment to the company and his efforts to distance himself from external controversies. The analyst’s revised price target and BUY rating reflect his confidence in Tesla’s potential for growth under Musk’s leadership.