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- Tesla's price target was raised to $225 from $220 at Wedbush Securities on Monday.
- Tesla's price cuts in China are boosting demand and tax credit changes in the US will be a tailwind.
- The "Twitter overhang" for Tesla's stock is fading, Wedbush's Dan Ives said.
Tesla bull Wedbush Securities said a rise in demand for Tesla cars in China and a favorable tax credit adjustment for electric vehicles in the US should propel the company's stock by nearly 20% from current levels.
Analyst Dan Ives in a Monday note to clients raised its Tesla price target to $225 from $220, implying an 18% upside from Friday's closing price of $189.98. The stock rose by 2.9% during Monday's session, potentially adding to its more than 50% surge so far in 2023.