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.
