Tesla Inc (NASDAQ:TSLA) shares are trading higher on Monday after Evercore ISI raised its price target on the stock. The company also reportedly increased production at its Shanghai facility.
What Happened: Evercore ISI analyst Chris McNally maintained an In-Line rating on Tesla while raising the price target from $235 to $300.
Tesla has a consensus Buy rating from analysts with an average price target of $349.50, per Benzinga data. Other recent analyst changes include a price target raise to $483 from Stifel and a price target increase to $247 from UBS.
Separately, Reuters reported that Tesla vice president Tao Lin announced on Weibo that the company’s Shanghai Gigafactory has begun a production ramp-up in the fourth quarter. The…
