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Tesla’s Relentless Surge Propels EV Peers Amid Growing Optimism

  • Wedbush raises bull-case target on Tesla to $1,000 from $800
  • Nio, Workhorse, Nikola, Lordstown, XPeng, Li all rise

The rally in electric-vehicle stocks received a fresh boost of confidence on Monday from Wedbush Securities, which said there is now a “major inflection” in EV demand globally.

Wedbush analyst Daniel Ives raised his best-case price target on Tesla to $1,000 from $800, reflecting a 104% premium to Friday’s close. Tesla shares rose as much as 6.7% Monday, touching an all-time high of $522.22. The shares have set fresh records in two of the last three trading days.