Wedbush again raised its price target on Tesla stock on expectations the new Trump administration will give the EV maker's self-driving and artificial intelligence efforts a boost.

Wedbush analyst Dan Ives has turned increasingly bullish on Tesla (TSLA), raising the price target on the EV maker to $515 per share. Ives went on to extend his bull case to $650 per share, with a total potential valuation of $2.

There has been a shakeup in the trillion-dollar market cap club, as both Tesla (TSLA) and Broadcom (AVGO) have recently joined the ranks. While Broadcom is a new entrant - and only the second chip company to command a market cap of over $1 trillion,