Tesla Inc. stock became available. to $ 900 on its way to another record near Friday, extending its successful run to an unprecedented 11th trading day.
Tesla TSLA,
shares rose as much as 7.3% to hit a record high of $ 875.38. The stock is up 36% over its 11 winning sessions, the longest winning streak ever.
The stock rise also pushed Tesla’s market capitalization to $ 824 billion, making Tesla the fifth largest U.S. company by market cap. Tesla’s market valuation surpassed FB Facebook Inc.,
on Thursday. Tesla has put more than $ 105 billion in market value this week alone.
Earlier on Friday, analysts at Evercore ISI raised their rating on the stock to a level equal to hold, from sales, saying they have been “on the very wrong side of (Tesla) for over a year now, ”they said in a note.
Their neutral stance now matches the ranking of 15 out of the 37 analysts covering Tesla and analyzed by FactSet. Of these, 12 are at the stock purchase stage and 10 are at the sales level.
For five years, “we have seen (Tesla) as‘ auto + premium auto, ’” an “attractive” EV maker company that would “grow for a very long time and sell x numbers of vehicles in x Outyear finally… Yes. But still an automated company, ”they said.
Related: Tesla and other EV makers report record sales, pushing stocks to new heights
“In reality (looking back & reasoning, never expected), we think technology / sales investors see (Tesla) as two separate technical companies,” one says the market leader in electric vehicles and another offering driverless car technology, solar power stationery storage technologies, battery and powertrain and others.
Moreover, Tesla is “in the best position” to take advantage of upside from climate initiatives from the new “blue” Biden administration and Senate, Evercore ISI analysts said.
Stocks of several clean and related energy companies were also collected on Friday, with American investment receipts from China-based electric vehicle maker Nio Inc. NIO,
and shares of another energy company Bloom Energy Corp. BE,
among the top winners.
Shares of Tesla have gained 796% in the last 12 months, compared to gains of around 17% for the S&P 500 index.
Tesla was added to the benchmark index last month. Sha