Tesla hits an all-time high for the 5th trading session in a row
Jul 8, 2020, 01:52 IST
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- Shares of Tesla hit an all-time high again on Tuesday, rising 4.22% to $1,429.5o per share. It's the fifth trading session in a row where Tesla has notched a fresh record-high stock price.
- The stock's most recent rally comes amid better-than-expected second quarter vehicle deliveries numbers and a slew of Wall Street analyst upgrades from bears and bulls alike.
- On Tuesday, Adam Jonas of Morgan Stanley boosted his Tesla price target to $740 from $650 and increased his bull case to $2,070, saying that the company's resilient second quarter makes it appear less risky and stronger financially than other OEMs.
- Still, Jonas has an "underweight" rating on shares of Tesla, as long-term concerns around profitability, fundamentals, and electric vehicle competition remain.
- Tesla has gained about 230% year-to-date.
- Watch Tesla trade live on Markets Insider.
- Read more on Business Insider.
