Elon Musk'sTesla Inc(NASDAQ:TSLA) has surged over 60% since the 2024 election results were announced, making it nearly five times more expensive than the industry average. Additionally, its technical indicators flash overbought warnings.

Despite this, Wedbush's Dan Ives has increased his price target on the stock to $515 apiece, citing optimism around a potential "game changer" under a Trump administration.

What Happened:Tesla shares are trading at a price nearly 126 times over its 2025 earnings, according to Benzinga Pro data. At the same time, the average forward price-to-earnings of its peers stand at 25.75 times, implying that Tesla is...