Business

Market movers

Tesla Motors stock jumps, nearing a record high

Elon Musk is chairman and CEO of California-based Tesla.

Associated Press/File 2012

Elon Musk is chairman and CEO of California-based Tesla.

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Tesla Motors Inc., the maker of electric cars, jumped after Stifel Nicolaus analyst James Albertine raised his target price to $400 and upgraded his rating to “buy” from “hold.” The $400 target tops those of 16 analysts polled by FactSet. Tesla, Albertine wrote, “has positioned itself as the smart vehicle of the future.” The stock has nearly doubled this year and is up more than 700 percent since early 2013.

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