Tesla (NASDAQ:TSLA) shares rose more than 2% intra-day today after Roth/MKM analysts upgraded the company from Neutral to Buy, raising their price target to $380. The analysts cited significant shifts in market sentiment and regulatory dynamics as drivers for the upgrade.

The analysts pointed to a growing wave of enthusiasm for electric vehicles in the U.S., bolstered by Tesla's strong brand recognition. Recent political and regulatory developments were seen as creating a more favorable environment for Tesla's innovations, including the CyberTaxi concept, which could benefit from reduced regulatory hurdles.

Tesla’s advancements in AI, particularly in Advanced Driver Assistance Systems (ADAS), were highlighted as a major growth area. The company's focus on developing smarter, more capable systems not only reinforced its leadership in the EV space but also supported its ambitions in humanoid robotics.

The analysts expressed confidence that these catalysts could drive Tesla’s valuation higher, underscoring the company’s ability to adapt to and capitalize on changing global dynamics.