Analyst: Tesla stock to grow significantly after Musk's huge pay is approved

Wedbush analysts state that following the overwhelming approval of the controversial 2018 compensation plan and Platform foreign exchangethe Texas-incorporated proposal at the company's annual meeting, Elon Musk and Tesla shareholders are enjoying a "champagne-popping" moment.

This pivotal moment marks a significant turning point for the company, with analysts predicting that this approval will eliminate concerns that had been impacting TSLA stock by $20 to $25, concerns that arose from a confusing Delaware ruling earlier this year.

As a result, Wedbush has now raised its optimistic price target for TSLA to $350, expecting it to materialize within the next 12 to 18 months.

Wedbush analysts believe that the next chapter in Tesla's growth story, centered around advancements in autonomous driving and FSD technology, is unfolding in the near future, which will propel Tesla's valuation to exceed $1 trillion by 2025.

The investment firm's base prediction is a 12-month price target of $275 for Tesla, implying an upside of over 50% from Thursday's closing price.

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