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Tesla Stock: Headed to $1,580?

Tesla (NASDAQ: TSLA) has taken a hit recently. The analyst’s updated price target for the stock calls for an impressive 55% upside from where shares closed on Friday. Based on Tesla’s share count today, this implies a $1.6 trillion market capitalization. Last Wednesday, New Street analyst and longtime Tesla bull Pierre Ferragu boosted his 12-month price target on Tesla stock from $1,290 to $1,580.