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

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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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