Why Tesla Stock Jumped Higher (Again) Wednesday

Shares of Tesla (NASDAQ: TSLA) continued to rocket higher on Wednesday, rising nearly 9% as of 10:50 a.m. EST. This gain builds on a sharp rise for the electric-car maker's stock on Tuesday, putting shares at $934.

The stock's gain once again is likely driven by an analyst's upgraded 12-month price target for the stock. There has been growing optimism among analysts and investors for Tesla following a year of impressive execution and ahead of the Model Y's launch this quarter. But this analyst is taking a look at the big opportunity for the company beyond electric vehicles.

Image source: Tesla.

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Source Fool.com