The breathless rally in Tesla Inc. has now created the stock’s biggest-ever spread over Wall Street analysts’ average price target for the shares.
The electric vehicle maker’s shares ran up as much as 2.4% to $1,243.49 on Thursday, taking its year-to-date gains to nearly 76%, amid a seemingly insatiable investor appetite for the stock. While several analysts have recently raised their targets on Tesla, that pace has proved to be no match for the momentum in the shares. Analysts’ average target is $764, according to Bloomberg data.
