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Why Tesla Stock Jumped on Tuesday

Why Tesla Stock Jumped on Tuesday

The move higher was likely driven both by an upbeat day in the overall stock market and an analyst's move to hike his price target on the stock. Also likely helping the stock on Tuesday was UBS analyst Patrick Hummel's increased confidence in the company's shares. Hummel lifted his 12-month price target on the stock from $725 to $1,000, noting that the electric car maker is poised to continue beating analyst expectations for its revenue and profit margins.