The company is quickly heading towards $600 a share.
And, on Tuesday, Jefferies lifted its one-year price target on the electric vehicle company's stock price by 50% to $600 amid what it sees as a very favorable 2020 earnings outlook.
In a note to clients, Jefferies analyst Philippe Houchois said cashing in based on current valuation would be a mistake, given the company is likely to turn profitable this year - something many analysts including Jefferies weren't calling for even 12 months ago.
On Monday, Oppenheimer analysts boosted their price target to a Wall Street high of $612 a share and called for Tesla's inclusion in U.S. equity benchmarks.
So, are the price targets on Tesla too low?
"I'm a huge fan of the car. The stock...I've missed the move. So it's just too hard to buy for me. You know, maybe this move, it has a lot to do with short covering too. And when you see that, that does make a stock susceptible to some type of pullback because at the same time we've seen a parabolic move in Tesla over the last couple of weeks of the last couple of months. Really, the run is extraordinary. So what I would say then is I just don't like parabolic moves," explained Jeff Marks, senior portfolio analyst with Action Alerts PLUS.
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