Tesla Stock Hits Three-Year High as Morgan Stanley Lifts Price Target | Global News Avenue

Tesla (TeslaShares soared to a three-year high on Tuesday after Morgan Stanley analyst Adam Jonas raised his price target on the automaker to $400 from $310 and confirmed it as a “top pick.”

shares Electric vehicles (EV) The company rose more than 3% in recent trading to over $406. Earlier, the stock hit $409.72, its highest level since November 5, 2021, a day after setting an all-time intraday record of $414.50.

The average target on Wall Street is near $290, and Morgan Stanley’s new target is among the highest tracked by the site, according to Visible Alpha data.

Tesla shares rise after election

this Elon Musk– Shares of leading companies are up about 65% this year, but all gains have been Been here since election day. Tesla CEO Musk is an outspoken supporter of Donald Trump and was recently selected by the president-elect to co-lead the newly proposed project Department of Government Efficiency (DOGE).

Trump vows to Lower vehicle emission standards and end other government support for electric vehicles. Some analysts believe Tesla could benefit if the new administration ends the Biden-era $7,500 EV tax credit, given its long history of making profitable electric vehicles, but Trump’s pro-tariff stance May affect the company’s sales in China.

“Elon Musk’s entry into politics expands investors’ thinking about Tesla’s fundamental prospects,” Jonas wrote on Tuesday.