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12/3/2020, 1:55 PM (Source: TeleTrader)
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Tesla jumps 4% premarket on price target boost

Shares of Tesla Inc. surged more than 4% in the premarket trade on Thursday after Goldman Sachs upgraded the carmaker's stock price target by a significant 40%.

Goldman previously changed the stock status from "neutral" to "buy," raising its price target from $550 to $780 per share. "The shift toward battery electric vehicle adoption is accelerating and will occur faster than our prior view," the statement noted at the time.

Meanwhile, the electric auto producer is preparing to be listed on the S&P 500 from December 21. Tesla's stocks jumped 4.16% to sell for $592.50 per share at 7:47 am ET. The stock soared almost seven times since the start of the year.

Breaking the News / ND