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Stock Alert: Tesla Climbs 5%

Shares of Tesla Inc. (TSLA) are gaining more than 5 percent or $23.47 in Friday's morning trade at $446.90 after analysts at Piper Sandler and Wedbush raised their price targets on the luxury electric car maker.

According to reports, Piper Sandler analyst Alex Potter raised his price target on Tesla's stock to $515 per share from $480 per share after an upbeat outlook on Tesla Energy, and maintained the overweight rating on the stock.

Similarly, Wedbush analyst Dan Ives raised the price target on Tesla's shares at $475 per share from $380 per share, citing strong demand in China, but maintained his rating on the stock at neutral.

Tesla has traded in a range of $43.67 to $502.49 in the past 52 weeks.

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