Why Is Tesla's Stock Trading Higher Today?

Tesla, Inc. TSLA shares are trading higher after DZ Bank upgraded the stock from Sell to Buy and announced a $750 price target.

The company's battery supplier, Contemporary Amperex Technology, also announced the sodium-ion battery and a battery pack solution at its first online launch event. The new sodium-ion batteries are a cheaper alternative to widely used lithium-ion batteries.

Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally.

Tesla's stock was trading about 4.1% higher at $673.67 per share on Thursday. The stock has a 52-week high of $900.40 and a 52-week low of $273.