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Wedbush Analysts Say Musk Needs to Announce He Will ‘Balance DOGE and Being Tesla CEO’
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Key Points
- Tesla Bull Dan Ives, an analyst at Wedbush Securities, said Elon Musk is the only one who can reverse the reputation of the EV maker, and the billionaire needs to show that he is balancing his role-playing roles with the U.S. automaker.
- “Tesla is going through a crisis and there is someone who can fix it… Musk,” wrote Wedbush analysts.
- Tesla’s stock has lost more than 40% of its annually-to-date value.
long time Tesla (TSLA)Wedbush Securities analyst Bull Dan Ives said Elon Musk is the only one who can reverse the reputation of EV manufacturers, and the billionaire needs to show that he is balancing himself with the role of the government’s Department of Efficiency and the U.S. automaker.
Ives, along with two other Wedbush analysts, stuck with his outperform score, with Tesla targeting $550. However, analysts pointed out that the company has a Political rebound From Musk’s collaboration with Dock – a cost-cutting agency of the Trump administration.
To “change the narrative around the stock”, Musk needs to “officially announce (he) will reach Doge and become Tesla CEO,” Analysts said. Analysts say such a statement could prevent permanent brand losses from U.S. automakers.
Another measure Musk needs to take is to provide investors with a “roadmap and opportunity” Low-cost electric vehicles Tesla is planning this year, as well as details of unsupervised fully autonomous driving for Austin in June.
“Tesla is in crisis and there is someone who can fix it… Musk,” analysts wrote.
Tesla’s stock has fallen 40% so far this year, and is subject to opposition and investors’ perception that the role of thresholds has distracted Musk from Musk. Tesla also saw it Slow sales United States, China and Europe.
Tesla shares fell more than 1% on Thursday.
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