Tesla Inc.’s post-election surge, powered by Elon Musk’s full-throated support for Donald Trump, has added almost $250 billion to the carmaker’s value, a staggering sum that now has some on Wall Street urging caution.

Shares in the electric vehicle maker have soared 31% since Trump’s decisive win, leaving analysts’ price targets in the dust.

Tesla's post-election surge, powered by Elon Musk's full-throated support for Donald Trump, has added almost $250 billion to the carmaker's value.

U.S. stocks are drifting near their records Wednesday after the latest inflation update boosted hopes that more help for the economy will arrive next month from another cut to interest rates. The S&P 500 was virtually flat in morning trading,