Why Tesla Stock Jumped as Much as 6.2% on Tuesday Morning

Shares of Tesla (NASDAQ: TSLA) jumped on Tuesday morning, rising as much as 6.2%. As of 10:45 a.m. EDT, however, they were up only about 1.5%.

The growth stock's gain was fueled by an analyst's decision to boost his 12-month price target on the shares from $939 to $2,322.

The Tesla Model 3. Image source: Tesla.