Why a Well-Known Analyst Is “Doubling Down” on Tesla (TSLA)

Tesla, Inc. (NASDAQ:TSLA) suffered “some brand damage” as a result of Elon Musk’s activities within the Trump administration, Dan Ives,  the famous Managing Director and Senior Equity Research Analyst at Wedbush Securities told Bloomberg recently

But the damage is not a game changer for the automaker, which remains, with Nvidia Corporation (NASDAQ:NVDA), “one of (the two) biggest tech disruptors in the world,” according to Ives.

Tesla (TSLA) Gets $410 Target, Morgan Stanley Says 'Muskonomy' Is the Bigger Story

Ives views Tesla, Inc. (NASDAQ:TSLA) as a huge disruptor because of its activities related to autonomous vehicles and robotics.

Tesla’s Recent Positive Catalysts

After Musk began devoting significantly more time to Tesla, Inc. (NASDAQ:TSLA), Ives said, “Tesla got its biggest asset back.” The analyst added that the demand for the automaker’s EVs is “starting to rebound” in Europe and China.

Ives’ Bottom Line on TSLA

Tesla, Inc. (NASDAQ:TSLA) has turned itself around, and its market capitalization can soar to $2 trillion, according to the analyst.

“I’m doubling down on TSLA,” he proclaimed.

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Disclosure: None. This article is originally published at Insider Monkey.