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Tesla’s stock spikes above $850 after Bernstein sees no ‘imminent’ negative catalyst

February 19, 2020

Shares of Tesla Inc. shot back above $850 Tuesday, after Bernstein analyst Toni Sacconaghi nearly doubled his price target, saying he didn’t see any negative catalysts on the horizon for a stock that wasn’t especially expensive.

The electric car maker’s stock TSLA, +7.30% surged 7.3% to close at $858.40, or just 3.2% below its Feb. 4 record close of $887.06. It has now more than doubled (up 105%) just this year.

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