Tesla stock surged back into the spotlight as Wedbush Securities analyst Dan Ives raised his price target to $500, up from $350, citing optimism over Tesla’s push into autonomous driving.
This bold projection reflects a potential 46% upside and is grounded in the imminent launch of a limited robotaxi service in Austin, Texas—a move that could redefine the future of the company.
“The golden age of autonomous is now on the doorstep for Tesla,” wrote Ives in his Investor’s Business Daily note. “We believe the core focus for investors is the AI Revolution now coming to Tesla.”
Robotaxi Rollout Begins in Austin
Tesla CEO Elon Musk confirmed that the robotaxi pilot will begin in June with 10 to 20 Model Y vehicles, which will operate under tight safety protocols and be geofenced within parts of Austin.
The rides will be invite-only with human supervisors and tele-operations to ensure safety.
“We expect to be selling fully autonomous rides in Austin in June,” Musk said during Tesla’s Q1 earnings call. “The team and I are laser-focused on bringing robotaxi to Austin.”
