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Tesla stocks hit a record on fresh Wall Street forecasts

Tesla stocks reached a new all-time high for the fifth consecutive day on Tuesday, rising by 5% to $483.99 at one point, according to Business Insider.

The rise in shares has continued since elected president Donald Trump won the election. Since the elections in November, Tesla shares have increased by 92%.

Recently, the rise in Tesla stock prices has been fueled by investor sentiment on Wall Street.

Analysts at Wedbush and Mizuho raised their target prices for the stocks to $515, indicating a growth potential of about 9% from current levels, and is the highest target among Wall Street analysts.

Experts at Mizuho upgraded Tesla's rating from 'neutral' to 'overweight' and more than doubled their target from $230 per share.

'We are upgrading Tesla's rating to 'overweight' as we expect unique favorable factors over the next ~4 years that will positively impact its positioning,' said the statement from Mizuho analysts led by Vijay Rakesh.