Tesla Stock Hits Three-Year High as Morgan Stanley Lifts Price Target
Key Takeaways
- Shares of Tesla rose to a three-year high Tuesday, lifted by an optimistic report from Morgan Stanley analyst Adam Jonas.
- The stock earlier rose to near $410, touching their highest level since November 2021.
- Jonas set a $400 price target on the stock that is well above Wall Street’s average.
Tesla (TSLA) stock surged to a three-year high Tuesday after Morgan Stanley analyst Adam Jonas increased his price target for the automaker to $400 from $310 and affirmed it as his “Top Pick.”
Shares of the electric vehicle (EV) company advanced more than 3% in recent trading to above $406. They earlier hit $409.72, their highest level since Nov. 5, 2021, a day after they set an all-time intraday record of $414.50.
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