This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
Shares in US tech firm Tesla are trading a little higher pre-market on Thursday. Tesla shares have seen heavy buying again over recent weeks amidst the broad improvement in risk appetite which has seen technology stocks especially buoyant.
The recent rally in Tesla shares has seen price breaking out above the prior 2020 highs at 502.12.
Goldman Sachs Issues Buy Rating
In a clear nod to the bullish prospects for the stock, Goldman Sachs issued a buy rating for Tesla this week. The iconic investment bank shifted its rating from neutral to bullish. They cited increased demand for electric vehicles and the positive impact of lower battery prices. Goldman also cited the increase in regulatory proposals to limit the sale of internal combustion engines.
A key focus of Tesla’s business recently is on lowering the cost of batteries to make its cars more affordable for the average vehicle use. Goldman’s acknowledgment of this as a reason for investing is a sign that Tesla is moving in the right ...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.