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Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, reports that JPMorgan has shifted to a positive stance on Tesla after appointing a new analyst.
The firm increased its price target for Tesla from $145 to $475, with the current share price at $388.
Balchunas has previously drawn attention to major market events. He noted when Bitcoin declined after a comparison to the taper tantrum. Earlier, he reported that the VOO ETF reached $1 trillion in assets after rising from $660 billion in a year.