Tesla Hits Record High Again on Price Target Lift from Another Analyst

Even the most bearish analyst on Wall Street is feeling optimistic about electric vehicle maker Tesla, prompting the company’s shares to explode yet again to a new record high.

The stock has now had a record close for four straight days with Monday’s closing price.

Shares of Tesla have now gone up a record $162.92, or 13.5%, to $1,371.58. The stock has soared 42.9%
over the past five days, the last four of which were record closing prices.

Analyst Ryan Brinkman at JPMorgan raised his stock price target by 7.3% to $295, but that was still 78.5% below current prices. He has the lowest price target of the 32 analysts surveyed by FactSet.

It was this past Thursday that Tesla said it delivered 90,650 vehicles in the second quarter, well above expectations of 72,000.

Two other analysts lifted Tesla’s price target on Monday, including JMP Securities by 43%.

JMP analyst Joseph Osha lifted his price target from $1,050 to $1,500 and said it was due to the company delivering more Model 3 and Model Y vehicles in the second quarter than JMP expected.

“Our target is now based on our belief that TSLA is positioned to become a $100 billion company” by 2025, in terms of revenue, Osha said. At the end of last year, Tesla had $24.6 billion in revenue.

Deutsche Bank analyst Emmanuel Rosner also raised Tesla’s price target to $1,000 from $900, referencing the stronger-than-expected vehicle shipments.

Disclaimer: We have no position in Tesla Inc. (NASDAQ: TSLA) and have not been compensated for this article.