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Fortune

Christiaan Hetzner

Wall Street’s biggest Tesla bull just raised the white flag, blaming Elon Musk for slashing his price target nearly by half

Elon Musk Dan Ives Tesla Inc. United States Donald Trump Wedbush Wedbush Securities China

Demonstrators rally against Tesla CEO Elon Musk, US President Donald Trump and their recent policies outside a Tesla showroom on April 05, 2025 in London, England. (Credit: Alishia Abodunde—Getty Images)

Wedbush Securities analyst Dan Ives lowered his Tesla price target to $315 per share, citing a steep revision in his delivery estimates through 2030 due to Elon Musk's politics. Ives had hiked it in late January to $550 just before the stock suffered a market rout. "The demand destruction for Tesla and brand damage is real," he wrote.

Roughly a month ago, Wedbush Securities analyst Dan Ives warned Tesla CEO Elon Musk that patience among his shareholders was “wearing very thin.”

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