Shares of Tesla (NASDAQ: TSLA) popped on Monday, rising nearly 4% as of 1:05 p.m. EDT. The gain followed an analyst's move to give the stock a significant price target increase. Canaccord Genuity analyst Jed Dorsheimer now thinks the electric-car maker's shares could rise to $1,071 within the next 12 months.
After the growth stock hit an all-time high of just over $900 earlier this year, it slid sharply during part of February and the beginning of March. Has the pullback created a buying opportunity?
Image source: Getty Images.
Source Fool.com