Tesla Races Higher On Goldman Sachs Upgrade. What’s Next?

Access To Financial Markets Made Easy • Dec 3, 2020 at 6:04 AM EST

Shares in Tesla have raced higher in post-market trading after investment banking giant Goldman Sachs upgraded the stock to a buy rating from neutral.

Shares in Tesla (TSLA) have raced higher in post-market trading after investment banking giant Goldman Sachs upgraded the stock to a buy rating from neutral. The bank also increased its price target for the electric-vehicle maker to $780 - the highest on Wall Street.

Tesla races higher on Goldman Sachs upgrade. What's next?

The new price target is a significant increase from the stock's November closing price of $567.60. Goldman's analyst cites the shift towards battery-operated vehicles is accelerating faster than expected with some governments phasing out new sales of higher-emission vehicles.

The Tesla share price is up more than 500% this year alone and is due to become a member of the coveted S&P 500 index on 21 December.

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