Tesla climbs higher on Wall Street's latest vote of confidence

A logo is displayed on a Tesla Inc. electric vehicle in Fremont, Calif., on July 20, 2020. Foto: Bloomberg/Nina Riggio

Wall Street's less skeptical view on Tesla Inc. further solidified on Wednesday after a Jefferies analyst more than doubled his price target on the stock, saying the company will continue to broaden its competitive edge in multiple dimensions, including battery capacity and industrial efficiency.

The analyst, Philippe Houchois, raised his target from $1,200 to to $2,500, making it the highest on the Street, according to Bloomberg data. Shares of the electric vehicle maker jumped as much as 4.8% to $2,120.65 in New York, on track for a record high...

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