Why Tesla Stock is Trading Higher Today

Tesla, Inc. TSLA shares are trading higher after Jefferies upgraded the stock from Hold to Buy and raised its price target from $700 to $850.

Jefferies analyst Philippe Houchois noted "Tesla has been capacity constrained all year. Looking into 2022, we see more global BEV demand, more battery and assembly capacity, a broader and mix-accretive model line-up and still no legacy issue."

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

Tesla's stock was trading about 2.7% higher at $717.93 per share on Monday at the time of publication. The stock has a 52-week high of $900.40 and a 52-week low of $273.