Wedbush Analyst Disappointed by Tesla’s Lower-Cost EV Pricing, Maintains Bullish Stance

Daniel Ives, Wedbush's top-ranked analyst, expressed disappointment in Tesla's recently launched lower-cost electric vehicles, citing underwhelming pricing and features. Despite this, the long-time Tesla bull views these models as a strategic move to regain a 500,000-unit quarterly delivery run-rate. Ives maintains his $600 price target—a 36.8% upside from current levels—and a 'Buy' rating on TSLA stock.

The October 7 reveal of a $39,990 Model Y SUV and $36,990 Model 3 Sedan failed to excite markets, triggering a 4% intraday stock drop. Ives noted the mere $5,000 price reduction from prior variants, framing the launch as incremental rather than transformative. His track record lends weight to the critique: ranked #366 among 10,074 analysts on TipRanks, Ives boasts a 57% success rate with average returns of 15.9% per rating.