Why Tesla Shares Are Rising

Tesla, Inc. TSLA shares are trading higher after Piper Sandler maintained an Overweight rating on the stock and raised its price target from $1200 to $1300.

Electrek also reported Hertz CEO Mark Fields revealed that its deal to supply Tesla vehicles to Uber includes an option for 100,000 more Tesla Model 3s, which would double its total order to 200,000 vehicles.

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 3.1% higher at $1,070 per share on Thursday at the time of publication. The stock has a 52-week high of $1,094.94 and a 52-week low of $379.11.