Tesla Inc TSLA is trading higher Wednesday on continued momentum following the company's recent Hertz deal. The stock is also being lifted by bullish commentary from Baron Capital's Ron Baron and a price target increase from Goldman Sachs.
Hertz announced that it placed an initial order of 100,000 Teslas by the end of 2022. Beginning in early November, customers will be able to rent a Tesla Model 3 from Hertz. The company also announced plans to install thousands of Tesla supercharging stations throughout its location network.
Speaking about Tesla on CNBC Wednesday morning, Baron said "I think we'll probably be invested for another 10 years at least."
The billionaire investor praised Tesla CEO Elon Musk and said the biggest risk to Tesla investors moving forward is the health of Musk.
Related Link: Why Ron Baron Expects To Own Tesla Stock 'For Another 10 Years At Least'
Goldman Sachs analyst Mark Delaney maintained Tesla with a Buy rating and raised the price target from $905 to $1125.
Tesla's average session volume is about 20.3 million over a 100-day period. Wednesday's trading volume had already exceeded 21 million at publication time, according to data from Benzinga Pro.
TSLA Price Action: Tesla has traded as high as $1,094.94 and as low as $379.11 over a 52-week period.
The stock was up 3.03% at $1,049.21 at time of publication.
Photo: courtesy of Tesla.
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