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Removal of EV Tax Credit Ceiling Could Bode Well for Tesla -- Market Talk

1543 ET - The potential removal of the current electrical vehicle tax credit, which is now capped at 200,000 units, should help boost demand for Tesla, Wedbush says. The firm sees the situation being underestimated by the Street currently. "We believe this dynamic is about to change in a big way for Tesla as we expect Congress to ultimately remove the ceiling on the EV tax credits as part of the broader $2.3 trillion Biden Infrastructure Plan," says the investment bank. While that could mean customers would be entitled to the $7,500 EV tax credit again, Wedbush thinks lawmakers could potentially push that amount to $10,000. Wedbush upgrades Tesla to outperform from neutral. Tesla up 5% to $693.16.
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