Jefferies says momentum is building in Tesla, nearly doubles forecast to a Wall Street high $1,200

Michael Bloom
WATCH LIVE
Tesla Inc CEO Elon Musk takes off his coat onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai, China January 7, 2020.
Aly Song | Reuters

(This story is for CNBC PRO subscribers only.)

Jefferies nearly doubled its price target on Tesla on Thursday, saying the company's momentum is accelerating and that it looks set to pull away from competitors. The analyst also upped his long term earnings estimates.