Jefferies boosts Tesla price target again, tripling it in two months

Tesla stock market

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.

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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.

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Tesla shares were up over 1% in after-hours trading following the news.

Tesla shares August 25 2020

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Senior Contributor. White Long Range AWD Model 3 owner since October 2018. EV fan since 2012 with my first Nissan Leaf | Mike@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca