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June 18, 2020, 9:38 a.m. EDT

Tesla stock gains after Jefferies boosts target to $1,200

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By Emily Bary

Shares of Tesla Inc. /zigman2/quotes/203558040/composite TSLA -3.95% are up 2.4% in morning trading Thursday after Jefferies analyst Philippe Houchois boosted his price target to $1,200 from $650 while maintaining a buy rating. "Against expectations even a few months back, the gap with peers is widening, from product to battery tech/capacity," Houchois wrote in a note titled "There is Logic in the Exuberance." He argued that the company's business model continues to test legacy car companies as the direct-selling model is getting the attention of traditional car makers. He also said that the COVID-19 crisis has helped accelerate the transition to electric vehicles among consumers within the public policy sphere. Tesla shares are up 180% over the past three months as the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.41% has gained 29%.

/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 732.23
-30.09 -3.95%
Volume: 49.02M
April 14, 2021 4:00p
P/E Ratio
1,165
Dividend Yield
N/A
Market Cap
$731.72 billion
Rev. per Employee
$445,694
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/zigman2/quotes/210599714/realtime
US : S&P US
4,124.66
-16.93 -0.41%
Volume: 2.09B
April 14, 2021 5:15p
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