Tesla Stock Is Surging: Is It a Buy?

Shares of Tesla (NASDAQ: TSLA) have been surging in recent weeks. But one analyst thinks the stock will go even higher over the next year. Goldman Sachs analyst Mark Delaney just increased his 12-month price target for the stock from $905 to $1,125.

While a $1,125 price target may only represent 8% upside from where the stock was trading on Wednesday, it would still be a notable achievement. After all, just six months ago, shares were trading at around $600. And just one month ago, the stock was trading at about $800.

Analysts' growing bullishness for the stock suggests the shares' recent climb higher may be more than hype. After all, a growing number of analysts have good reasons to believe that Tesla's lead in the fast-growing electric-vehicle (EV) space could widen in the coming years, despite incumbents' comparably slow expansion into EVs.

Source Fool.com