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Tesla drives to new highs after Goldman Sachs recommendation upgrade

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Shares of Tesla, the US carmaker, advanced 4.32% this Thursday after Goldman Sachs, the New York-based investment banking group, improved its advice and price target.

This Thursday, the shares of the electric car company rose strongly to a price of $ 591.04. This supposes almost 4% more than closing this Wednesday.

In this sense, the Tesla price has multiplied by seven so far this year, it has gone from 86 dollars to about 586 dollars. Thursday's hikes come after the US bank raised its recommendation for Tesla from "neutral" to "buy." In addition, it increased the target price of its shares to 780 dollars, thus becoming the highest on Wall Street.

The car company assures: "" The shift towards the adoption of battery electric vehicles is accelerating and it will happen faster than we project previously".

But nevertheless, EIon MuskCEO of Tesla, warned that the company's shares could be reduced if costs are not controlled, "" they will immediately crush like a souffle under a mallet, "said the tycoon. In addition, it has recognized that the price of the shares is due to the high investor expectations more than recent results. Due to this, the titles have fallen by 2.73%.

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