CNBC Pro

Jefferies: Tesla will climb to $400 after third quarter showed path of 'sustained profitability'

Share
Tesla cars are delivered to a showroom in Brooklyn on April 25, 2019 in New York City.
Spencer Platt | Getty Images

Jefferies sees stock climbing more than 18% in the next year due to prospects for longer-term profitability. The firm raised its price target on the electric automaker on Monday to $400 a share from $300 a share.

Tesla shares rose 2.4% in trading to close at $345.09. Jefferies, which has a buy rating on the stock, now ranks as one of the highest Wall Street price targets on Tesla.

More In Pro News and Analysis

CNBC ProCramer sees rough week ahead for market: 'Let stocks come down a little and then do some buying'
CNBC ProEnergy stocks roar toward their best year in three decades amid recovery in oil
CNBC ProHere are Friday's biggest analyst calls of the day: Amazon, Facebook, Ford, GM, Delta, Nike & more