Tesla's stock price rose 3.64% on Tuesday, reaching nearly 480 dollars, setting a new historical high, after another Analyst upgraded the stock rating and raised its Target Price to over 500 dollars.

As a result, Tesla CEO Elon Musk's net worth increased by 12 billion dollars overnight, reaching 486 billion dollars, which has skyrocketed by 257 billion dollars so far this year.

Mizuho upgraded Tesla's rating to "Outperform the Large Cap" in a report on Tuesday, raising its Target Price from 230 dollars to 515 dollars. The median Target Price on Wall Street is close to 300 dollars, below the recent level of Tesla stocks.

Mizuho stated that during the next four years of the Trump administration, Tesla will have "special tailwinds," including potential easing of regulations on autonomous driving and the repeal of consumer electric vehicle tax credits, which could benefit Tesla compared to its peers.

The day before Mizuho released the above report, generally bullish on Tesla, Wedbush Analyst Dan Ives raised its Target Price from 400 dollars to 515 dollars and provided a "bull case scenario" forecast of 650 dollars for next year. Wedbush's Analyst believes that with the formation of autonomous driving vision and the anticipated significant increase in electric vehicle deliveries in China, Tesla's Market Cap could reach 2 trillion dollars by the end of 2025.