Investor's Corner
Wall Street explains why they are bullish on Musk-Trump alliance

Morgan Stanley analyst Adam Jonas released a new research note clarifying why he raised the target price for Tesla Motors (TSLA) to $305 per share. Jonas warns investors who have equated Elon Musk’s new relationship with Donald Trump with a higher stock price. “There is no way to quantify the value (if any) of Tesla management’s advisory relationship with the new administration,” Jonas said.
Instead, Jonas emphasized the congruence between Trump’s desire for American workers to build products in American factories and Tesla’s business model which does both. Tesla is a leader in the automotive segment in both categories. “When you look at the businesses Tesla is in, you see many areas of overlapping interest” with the Trump administration, Adam Jonas told New York Times correspondent James Stewart on Friday. “To the extent the new administration prioritizes the creation of valuable, innovative high tech and manufacturing jobs, Tesla stands at the epicenter of that.”
In fact, the auto industry manufactures relatively few cars that can be truly called “US Made.” According to a chart compiled by Cars.com last year, the number of models of light duty vehicles that qualify for that label has fallen precipitously in recent years from nearly 30 in 2010 to only 8 in 2016.
Another analyst weighing on the Musk-Trump connection is Andrew Hughes, an alternative energy analyst for Credit Suisse. Hughes said solar investors “aren’t nearly as negative as they were the day after the election.” In part, that is because solar power — which up until now has needed significant federal incentives to survive — has become so inexpensive, particularly with regard to coal, that many industry observers think it will survive on its own even if those incentives are eliminated by the Trump administration.
Despite Donald Trump’s antipathy to renewable energy, business is all about the bottom line. If solar costs less than coal, then business is going to switch to solar no matter what the president has to say. Elon Musk is also heavily involved in re-imagining the role of the electrical grid. He sees battery storage as the key to making the grid compatible with renewables like solar and wind.
Musk has gone head-to-head with utility companies, including NV Energy, which is owned by Warren Buffett’s Berkshire Hathaway company. In 2016, Musk and SolarCity lost a round when the Nevada PUC enacted new rules imposing monthly assessments on people with rooftop solar systems. In return, SolarCity terminated its operations in the state, laying off hundreds of local workers.
Nevertheless, Musk expects both Tesla with its grid scale batteries and SolarCity with its rooftop systems — including the revolutionary Solar Roof — to play an ongoing part in how people get their electricity in the future. Last fall, just prior to unveiling the Solar Roof, Musk said, “The solution is both local power generation and utility power generation — it’s not one or the other”. He went on to suggest that the proper mix would be about one third residential rooftop power and two thirds power from traditional utility companies.
The US Energy Department stated in its annual energy and jobs report issues earlier this month that “solar technologies, both photovoltaic and concentrated, employ almost 374,000 workers, or 43 percent of the electric power generation work force.” Compare that to the number of workers employed to make electricity from coal. That number is just 86,000 workers. “The jobs data is a compelling argument in favor of the tax credits,” Andrew Hughes said. “I want to believe that Trump won’t kill solar, but there’s still a lot of uncertainty. The big question: Will he take away the tax credits?”
Musk received plenty of blowback when he decided to endorse former CEO of ExxonMobil Rex Tillerson for the position of Secretary of State. That makes him the public face of the fossil fuel industries and theoretically a natural adversary for Musk and his commitment to zero emissions energy. But Elon thinks Tillerson can temper some of the president’s more outrageous plans to extract every last molecule of fossil fuel that can be found on the planet.
Tillerson also advocates for a carbon tax, an idea that Musk strongly supports. According to reports, Musk floated the carbon tax idea at last week’s meeting of business advisors to the president. While Donald Trump did not dismiss the idea out of hand, Musk found little to no support from others in the room.
Trump likes to think big and take bold actions. So does Elon Musk. In some ways, it’s easy to see why the two men might take a liking to each other. Trump is especially interested in space exploration, something that fits perfectly with Musk’s passion for establishing a human colony on Mars.
Job creation in America for American workers, rebooting the traditional utility grid to use modern technology, sending people off to live on other planets. These are all things that interest both men. But cozying up to Trump also exposes Musk to dissatisfaction with some of the president’s less popular plans, like building walls with neighboring countries, sending federal troops into American cities, and banning immigration by people who espouse certain religions. To be successful, Tesla will need a broad base of customers. Musk has been careful to avoid political involvement so far. His association with the new president exposes him to new dangers.
One gets the sense that Musk is willing to accept some of the negatives if he can make progress on his passion for a carbon tax. But if that idea is stymied by Trump and his advisors, Elon’s desire to work with the new administration may cool considerably. Perhaps the most danger comes from the unpredictability and volatility of the new president, who can change course in a heartbeat. Musk will be need to be nimble to avoid getting rolled over by Trump in the future.
The president is scheduled to meet with his council of business leaders today, at which time he says he will provide details about his plant to cut government regulation of business by “75% or more.” That will give Musk yet another chance to evaluate the business acumen of Donald Trump and decide whether his involvement with his plans will pay dividends for him and the companies he leads. As Adam Jonas said in his report, it is impossible to predict how the association between Trump and Musk will benefit either.
Investor's Corner
Tesla Q3 deliveries expected to exceed 440k as Benchmark holds $475 target
Tesla stock ended the third quarter at $444.72 per share, giving the EV maker a market cap of $1.479 trillion at the end of Q3 2025.

Benchmark has reiterated its “Buy” rating and $475 price target on Tesla stock (NASDAQ: TSLA) as the company prepares to report its third-quarter vehicle deliveries in the coming days.
Tesla stock ended the third quarter at $444.72 per share, giving the EV maker a market cap of $1.479 trillion at the end of Q3 2025.
Benchmark’s estimates
Benchmark analyst Mickey Legg noted that he expects Tesla’s deliveries to hit around 442,000 vehicles this Q3, which is under the 448,000-unit consensus but still well above the 384,000 vehicles that the company reported in Q2 2025. According to the analyst, some optimistic estimates for Tesla’s Q3 deliveries are as high as mid-460,000s.
“Tesla is expected to report 3Q25 global production and deliveries on Thursday. We model 442,000 deliveries versus ~448,000 for FactSet consensus with some high-side calls in the mid-460,000s. A solid sequential uptick off 2Q25’s ~384,000, a measured setup into year-end given a choppy incentive/pricing backdrop,” the analyst wrote.
Benchmark is not the only firm that holds an optimistic outlook on Tesla’s Q3 results. Deutsche Bank raised its own delivery forecast to 461,500, while Piper Sandler lifted its price target to $500 following a visit to China to assess market conditions. Cantor Fitzgerald also reiterated an “Overweight” rating and $355 price target for TSLA stock.
Stock momentum meets competitive headwinds
Tesla’s anticipated Q3 results are boosted in part by the impending expiration of the federal EV tax credit in the United States, which analysts believe has encouraged buyers to finalize vehicle purchases sooner, as noted in an Investing.com report.
Tesla shares have surged nearly 30% in September, raising expectations for a strong delivery report. Benchmark warned, however, that some volatility may emerge in the coming quarter.
“With the stock up sharply into the print (roughly ~28-32% in September), its positioning raises the bar for an upside surprise to translate into further near-term strength; we also see risk of volatility if regional mix or ASPs underwhelm. We continue to anticipate policy-driven choppiness after 3Q as certain EV incentives/credits tighten or roll off in select markets, potentially creating 4Q demand air pockets and order-book lumpiness,” the analyst wrote.
Elon Musk
Elon Musk slams ING Deutschland for denying TSLA shareholders ability to vote
Musk posted his criticism of the firm in a post on social media platform X.

Elon Musk has slammed ING Deutschland after the bank confirmed that it was not offering a way for clients to vote in the upcoming 2025 Tesla Annual Shareholders Meeting.
Musk posted his criticism of the firm in a post on social media platform X.
Musk’s criticism
Musk’s criticism of ING Deutschland came as a response to the bank’s comment to a Tesla shareholder. The shareholder, Maximilian Auer, noted that he has not received a response from the German bank’s customer support on how he could vote with his TSLA shares. In response to the Auer’s comment, ING Deutschland confirmed that it does not offer such a service.
“We do not offer the proxy voting process or the transmission of a control number. There is no legal obligation to do so for general meetings under foreign law,” ING Deutschland wrote in its post.
The firm’s reply received a lot of criticism from users on X, with many stating that such comments could drive clients away. Elon Musk later weighed in with some strong words of his own, stating that the bank is effectively denying shareholders the ability to vote. “Denying shareholders the ability to vote, as you are doing, certainly should be a crime,” Musk wrote in a post on X.
Tesla’s annual meeting
Tesla’s upcoming annual meeting this year is particularly important as shareholders are voting on the approval of Elon Musk’s new CEO performance award. The pay package, which could pave the way for Musk to become a trillionaire, is also designed to increase his stake in the electric vehicle maker to 25%. This, Musk stated, should prevent activist shareholder advisory firms to disrupt the company.
Tesla highlighted the importance of this year’s annual meeting in a post on X.
“We pay for outstanding performance – not for promises. In 2018, shareholders approved a groundbreaking CEO Performance Award that delivered extraordinary value. At our Annual Meeting on November 6, Tesla shareholders can vote on a pay-for-performance plan designed to drive our next era of transformational growth and value creation. Seven years ago, Elon Musk had to deliver billions to shareholders – now it’s trillions.
“This plan creates a path for Elon to secure voting rights and will retain him as a leader of the company for many years to come. But as explained below, Elon only receives voting rights after he has delivered economic value to you. Your vote matters. Vote ‘FOR’ Proposal 4!” Tesla wrote in its post on X.
Investor's Corner
Tesla price target raised to $490 at Canaccord on strong deliveries, energy growth
The revised target implies about 10% upside from Tesla’s last close at $443.21.

Tesla (NASDAQ: TSLA) received a significant boost from Canaccord Genuity this week, with analysts lifting their price target to $490 from $333 and reiterating a “Buy” rating for the electric vehicle maker.
The revised target implies about 10% upside from Tesla’s last close at $443.21.
New vehicle launches
Canaccord’s research across roughly 30 countries pointed to higher delivery volumes than anticipated, breaking the slowdown from earlier this year, as noted in an Investing.com report. Analysts noted that Tesla’s upcoming vehicle launches are expected to sustain sales momentum globally, even as U.S. tax credits phase out after the third quarter. The firm stated that new models will play a central role in broadening the company’s appeal across multiple markets and customer segments.
“On the EV side, we expect more new models soon – as promised by management. These should help global sales momentum – and potentially help alleviate any post-3Q cliff in the U.S. after EV tax credits go away. And these new vehicles should be interesting,” analyst George Gianarikas noted.
The analysts also highlighted Tesla’s progress in autonomous driving. Earlier this month, the company secured approval from Arizona regulators to begin road testing its robotaxi program in the Phoenix metro area. The pilot program includes vehicles equipped with safety drivers, positioning Tesla to advance its ride-hailing ambitions while gathering critical real-world data.
Expanding energy storage demand
In addition to vehicle growth, Canaccord emphasized Tesla’s rapidly expanding energy storage business as a major contributor to future earnings. With utilities and hyperscale data centers increasing adoption of battery storage, Tesla is positioned to benefit from rising demand for grid stability and on-site power solutions. Elon Musk’s xAI has already tapped Tesla energy for its facilities, highlighting broader use cases for Tesla’s energy business.
“In energy storage, we expect an improvement in momentum. We, the world, need more power, and we need more storage for both utilities and data centers. Hyperscaler data centers are looking for power that is not fully tied to the grid: “behind the meter” or distributed generation solutions that supply power directly to an onsite property but are still typically connected to the main utility grid,” the analyst noted.
The analysts also pointed to Musk’s new compensation package, which ties ambitious performance milestones directly to long-term shareholder returns. They view his ongoing leadership and alignment with investor outcomes as key positives, while acknowledging environmental risks tied to large-scale energy projects.
-
Elon Musk1 week ago
Tesla FSD V14 set for early wide release next week: Elon Musk
-
News6 days ago
Elon Musk gives update on Tesla Optimus progress
-
News1 week ago
Tesla has a new first with its Supercharger network
-
News1 week ago
Tesla job postings seem to show next surprise market entry
-
News2 weeks ago
Tesla makes a big change to reflect new IRS EV tax credit rules
-
Investor's Corner7 days ago
Tesla gets new Street-high price target with high hopes for autonomy domination
-
Lifestyle5 days ago
500-mile test proves why Tesla Model Y still humiliates rivals in Europe
-
News4 days ago
Tesla Giga Berlin’s water consumption has achieved the unthinkable