Tesla races higher on Goldman Sachs upgrade. What’s next?
Shares in Tesla have raced higher in post-market trading after investment banking giant Goldman Sachs upgraded the stock to a buy rating from neutral. The bank also increased its price target for the electric-vehicle maker to $780 - the highest on Wall Street.
The new price target is a significant increase from the stock's November closing price of $567.60. Goldman's analyst cites the shift towards battery-operated vehicles is accelerating faster than expected with some governments phasing out new sales of higher-emission vehicles.
The Tesla share price is up more than 500% this year alone and is due to become a member of the coveted S&P 500 index on 21 December.
Did you know that you can speculate on the direction of Tesla's share price using Contracts for Difference (CFDs)? This allows you to potentially profit from both rising and falling markets. Get started with a free demo trading account today!
How to trade Tesla with Admiral Markets UK Ltd
If you are feeling bullish or bearish on the price direction of Tesla you can speculate on the direction using CFDs. To get started, follow these five simple steps:
- Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
- Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
- Type in Tesla and choose your instrument at the bottom of the Market Watch search box and then drag the symbol onto the chart.
- Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
- Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.
Source: Admiral Markets MetaTrader 5 Web, #TSLA, Weekly - Data range: Jun 1, 2014, to Dec 3, 2020, performed on Dec 3, 2020, at 7:07 am GMT. Please note: Past performance is not a reliable indicator of future results.
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