Tesla (TSLA) Shares Surge Over 4% After Bank of America Raises Price Target

Dec 05, 2024

Tesla's (TSLA, Financial) stock saw an increase of over 4% as trading began. Bank of America has raised its price target for the electric vehicle giant to $400, up from the previous target of $350, while maintaining a buy rating.

Analyst John Murphy, after visiting Tesla's Gigafactory in Austin, Texas, expressed confidence in the company's growth prospects beyond 2025. This positive outlook contributed to the rise in Tesla's stock price.

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