Reuters
On Tuesday, JMP boosted its
Tesla price target to $1,060, the highest on Wall Street and 46% above where shares traded at Monday's close.
Tesla shares gained as much as 8% in trading Tuesday morning.
JMP also upgraded its rating of Tesla to "buy," arguing that the recent coronavirus-induced market sell-off has given investors an opportunity to enter the stock.
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Tesla just gained a new biggest bull on Wall Street even after falling amid a market-wide sell-off on coronavirus fears.
On Tuesday, JMP analyst Joseph Osha raised his Tesla price target to $1,060, about 46% higher than where shares traded at Monday's close. It's currently the highest price target for the automaker on Wall Street.
Tesla shares gained as much as 10% in early trading Tuesday.
