With Tesla’s 5-for-1 stock split just days away, one Tesla analyst has raised his price target for Tesla shares (TSLA) for the second time in just two months.
In June, Jefferies analyst Phillipe Houchois nearly doubled his price target for the electric automaker from $650 to $1,200, while maintaining a ‘buy’ rating for the stock.
Now Houchoise has once again raised his price target, this time more than doubling it from $1,200 to $2,500, with an upside scenario of $3,000.
$TSLA | Jefferies Raises Tesla Price Target To $2500 From $1200
— LiveSquawk (@LiveSquawk) August 25, 2020
Tesla shares were up over 1% in after-hours trading following the news.
Legal Disclaimer – Mike holds shares of Tesla, Inc. (TSLA) and has no plans to change any positions within 72 hours.