Why Tesla Shares Gained On Friday

Tesla, Inc. (NASDAQ:TSLA) shares are trading higher after Jefferies maintained a Buy rating on the stock and raised its price target from $850 to $950.

Jefferies analyst Philippe Houchois noted 'We raise EBIT estimates 7-9% for 2022-23 and PT to $950 on higher capacity ramp and sustained demand, following further analysis of Q3 data and various sources of information on the soon-to-be launched Berlin facility.'

Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally.

Tesla shares were trading about 3% higher at $842.44 on Friday at the time of publication. The stock has a 52-week high of $900.40 and a 52-week low of $379.11,