$TSLA - MUSK’S NEW PAY DEAL LIFTS UNCERTAINTY FOR TESLA: WEDBUSH
Tesla’s new stock award for CEO Elon Musk removes a key overhang and ensures leadership stability through 2030, says Wedbush analyst Dan Ives.
In a note following Tesla’s 8-K filing, Wedbush called the 96 million-share grant a strategic move to retain Musk, aligning with its earlier call for the board to secure his long-term commitment.
The award, valued at $23.7 billion, mirrors terms from Musk’s 2018 plan and requires him to pay $23.34 per share upon vesting.
Wedbush emphasized the importance of Musk amid the AI talent war and reiterated an Outperform rating with a $500 price target.
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