Why Tesla Stock Jumped on Monday
The growth stock's gain follows news of an analyst's move to upgrade his 12-month price target for Tesla. On Monday, Baird analyst Ben Kallo raised his 12-month price target on the shares from $488 to $728, representing nearly a 50% boost to the target price. Following the automaker's recent aggressive expansion of its manufacturing capacity, including the late 2019 launch of its Shanghai factory and the ongoing construction of factories in Berlin and Austin, Texas, Tesla is entering into a new phase as a company, Kallo says.
