Tesla's stock rises after Oppenheimer raises its price target to over $ 600

0
58
<pre><pre>Boeing, Travelers' losses have contributed to Dow's 75-point decline

Shares in Tesla Inc.

TSLA, + 9.77%

Premarket trading rose 2.3% on Monday after Oppenheim analyst Colin Rusch raised its price target by almost 60% to over $ 600. In his opinion, the manufacturer of electric vehicles has reached a "critical scale" that is sufficient to support a sustained positive free cash flow (FCF). , Rusch repeated his outperformance rating, raising his price target from $ 385 to $ 612, 28% higher than Friday's closing price. Although he expects continued stock volatility, he believes Tesla has "decisive advantages" over its competitors in terms of powertrain design and battery technology, ADAS fleet size, energy independence roadmap, and consumer excitement. "[W]We believe that the company's risk tolerance, ability to learn from past mistakes, and ambition greater than that of its competitors pose an existential threat to transportation companies that are unable or unwilling to accelerate innovate. "Rusch wrote in a note to customers. Rusch's new price target is the second highest of the 32 analysts surveyed by FactSet, after Elazar Advisors' target, Chaim Seigel, of $ 734% in the past three months through Friday during the S & P 500

SPX, + 0.70%

gained 9.9%.