fbpx
QQQ
-0.94
327.30
-0.29%
DIA
-1.94
313.81
-0.62%
SPY
-1.33
385.48
-0.35%
TLT
+ 0.49
150.90
+ 0.32%
GLD
-1.39
176.67
-0.79%

CFRA Raises Tesla Price Target To $650, Sees Momentum Continuing

November 30, 2020 12:06 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
CFRA Raises Tesla Price Target To $650, Sees Momentum Continuing

Tesla Inc (NASDAQ:TSLA) stock has been on a dramatic rise since the announcement that the company will be included in the S&P 500. The increase in share price is due to anticipation that funds will need to buy a large amount of shares come Dec. 21.

On Monday, CFRA analyst Garrett Nelson maintained a Strong Buy rating on Telsa and raised the stock's price target from $550 to $650.

Click here to check out Benzinga's EV Hub for the latest electric vehicles news.

Nelson thinks Tesla's positive moment from the S&P inclusion announcement will continue. He also mentions the possibility of electric vehicles being subsidized under the Biden administration.

Nelson previously suggested selling Tesla shares in January of 2020, calling the valuation of the company at that time "quite frothy."

Tesla trades around $586 per share at publication time. The stock is higher by 600% year-to-date.

Photo courtesy of Tesla.


Related Articles

Tesla, Bitcoin More Likely To Halve Than Double Value In 2021: Deutsche Bank Survey

Tesla Inc. (NASDAQ: TSLA) and Bitcoin (BTC) are more likely to see their values halved than doubled over the period of next 12 months, according to the majority of respondents in a Deutsche Bank survey published Tuesday. read more

Why 'SPAC King' Palihapaitiya Is Warning Against Selling Tesla Stock

Virgin Galactic Holdings Inc (NYSE: SPCE) Chairman and SPAC king Chamath Palihapitiya said Thursday that Tesla Inc (NASDAQ: TSLA) stock could double or triple in value from here.  read more

Nio And Tesla Hit The Accelerator For Nifty, High-Flying Electric Vehicle ETF

An obvious lesson many investors learned in 2020 is that electric vehicle stocks and the related exchange-traded funds are the future of automotive investing and are scorching hot. read more

Tesla Gets Street-High $810 Price Target From Morgan Stanley

Despite rising more than 700% over the past year, Tesla Inc (NASDAQ: TSLA) is getting a bullish call and new Street-high price target. read more