- On Monday, Colin Rusch of Oppenheimer raised his Tesla price target to $612 from $385. It’s now the highest price target on Wall Street for the company and 28% above Friday’s closing price.
- Shares of Tesla surged as much as 5.6% Monday and traded above $500 per share for the first time ever.
- While Tesla has “stumbled through growing pains, we believe the company has reached critical scale sufficient to support sustainable positive FCF,” Rush wrote in the Monday note.
- Watch Tesla trade live on Markets Insider.