Tesla stock tops $800 on ‘blue’ hopes, Wall Street upgrade – MarketWatch

Tesla Inc. stock rallied to an all-time high Thursday, boosted by one upgrade and hopes that a “blue” Senate will be a “potential game changer” for the Silicon Valley electric-car maker and other EV and alternative-energy companies.

Tesla TSLA, +7.94% shares traded as high as $816.99, an intraday record, and extended their winning streak to a 10th session, their longest since a 10-day stretch in April.

The rally pushed Tesla’s valuation to $773.5 billion, surpassing Facebook Inc.’s FB, +2.06% $765.5 billion valuation, thus making Tesla the fifth largest U.S. company by market cap. Tesla has added nearly $105 billion in market value this week.

Analysts at RBC Capital, led by Joseph Spak, raised their rating on Tesla stock to their equivalent of hold, from sell, and set a price target of $700, from a previous $339.

See also: Tesla and other EV makers report record sales, sending stocks to new highs

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