Most Objectivists believe that Ayn Rand was always opposed to Ronald Reagan. But that is not the case. Chris Matthew Sciabarra explains that Rand initially saw Reagan as a promising public figure:
The country at large is bitterly dissatisfied with the status quo, disillusioned with the stale slogans of welfare statism, and desperately seeking an alternative, i.e., an intelligible program and course. The intensity of that need may be gauged by the fact that a single good speech raised a man, who had never held public office, to the governorship of California. The statists of both parties, who are now busy smearing Governor Reagan, are anxious not to see and not to let others discover the real lesson and meaning of his election: that the country is starved for a voice of consistency, clarity, and moral self-confidence---which were the outstanding qualities of his famous speech, and which cannot be achieved or projected by consensus-seeking anti-ideologists.
As of this date, Governor Reagan seems to be a promising figure---I do not know him and cannot speak for the future. It is difficult to avoid a certain degree of skepticism: we have been disappointed too often. But whether he lives up to the promise or not, the people's need, quest for, and response to clear-cut ideas remain a fact---and will become a tragic fact if the intellectual leaders of this country continue to ignore it.
~ Ayn Rand in "The Wreckage of the Consensus"