More Analysts Are Backing Tesla Stock—And the Shares Are Rising | Global News Avenue

Tesla (Tesla) shares rose on Monday after two analysts expressed optimism about the electric car maker’s prospects.

Roth Capital Partners upgraded the stock to “buy” from “neutral” with a price target of $380, nearly $300 higher than its previous positioning. CEO Ross said in a note to clients Elon Musk’s A close relationship with President-elect Donald Trump could increase demand for Tesla vehicles.

Stifel also significantly increased its price target, raising its price target from $124 to $411 while maintaining a “buy” rating on the stock. Analysts led by Stephen Gengaro also reportedly pointed to Tesla’s self-driving technology as well as the CyberCab robot taxi.

Tesla’s stock price has recently risen by more than 3%, and its recent trading price has reached its highest level in two and a half years, with a changing hands price of just under $360. The average price target on Wall Street is below current levels, near $280, according to Visible Alpha data.

Ross’ report noted that Trump is expected to End of $7,500 federal tax credit For EV buyers, this “should benefit Tesla indirectly as we expect mainstream OEM competitors to continue to exit the EV market.”

Ross said he expects Tesla to expand its market share in the United States, strengthen its leadership in artificial intelligence and benefit from its position in commercial robotics.