Wedbush bets on 'golden age of autonomy' for Tesla, raises PT

EV maker Tesla's TSLA.O shares up 1.2% at $345.13 in premarket trading

Wedbush raises PT to Wall-Street high of $500 from $350, keeps 'outperform' rating

The new price target represents a 46.6% upside to the stock's last close

Brokerage believe TSLA is entering "the golden age" of autonomy, with next month’s Austin launch marking the start of a major growth chapter

"We see the true autonomous winner as Tesla, and over the coming year, more investors will recognize this AI vision," says brokerage

Despite expected setbacks, co’s global scale gives it a strong chance to dominate the autonomous market and eventually license its technology to other automakers worldwide - Wedbush

Avg rating of 54 analysts covering TSLA is "hold"; median PT $300 — data compiled by LSEG

Up to last close, stock had fallen 15.57% YTD, vs 14.4% decrease in the S&P 500 Automobiles Index .SPLRCAUTM