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Jefferies upgrades Tesla, predicts shares to rally 22%, says company is still the innovation leader

SpaceX founder and Tesla CEO Elon Musk looks on as he visits the construction site of Tesla's gigafactory in Gruenheide, near Berlin, Germany, May 17, 2021.
Michele Tantussi | Reuters

Legacy automakers have joined the push for an electric vehicle future, but that doesn't take away from the bull case for Tesla's stock, according to investment firm Jefferies.

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